Cormark Weighs in on Whitecap Resources Inc.’s Q4 2017 Earnings (WCP)
Whitecap Resources Inc. (TSE:WCP) – Equities research analysts at Cormark upped their Q4 2017 EPS estimates for Whitecap Resources in a research report issued on Tuesday. Cormark analyst G. Ursu now expects that the company will post earnings per share of $0.05 for the quarter, up from their previous forecast of $0.03. Cormark also issued estimates for Whitecap Resources’ Q1 2018 earnings at $0.08 EPS, Q2 2018 earnings at $0.08 EPS, Q3 2018 earnings at $0.08 EPS and Q4 2018 earnings at $0.09 EPS.
Several other research firms also recently issued reports on WCP. CIBC reiterated an “outperform” rating and set a C$12.50 price objective on shares of Whitecap Resources in a research note on Tuesday. TD Securities boosted their target price on shares of Whitecap Resources from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research report on Tuesday. National Bank Financial boosted their target price on shares of Whitecap Resources from C$11.50 to C$12.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. Barclays boosted their target price on shares of Whitecap Resources from C$10.00 to C$11.00 in a research report on Thursday, November 2nd. Finally, BMO Capital Markets boosted their target price on shares of Whitecap Resources from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a buy rating, Whitecap Resources has an average rating of “Buy” and an average target price of C$13.10.
The company also recently announced a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.023 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.12%. Whitecap Resources’s payout ratio is currently 34.95%.
In related news, Director Grant Bradley Fagerheim purchased 10,200 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were purchased at an average cost of C$8.91 per share, with a total value of C$90,882.00.
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Whitecap Resources Company Profile
Whitecap Resources Inc is a Canada-based oil-weighted growth company focused on its existing assets enhanced by oil-based acquisitions. Its assets include Boundary Lake property, which is located in northeast British Columbia; Valhalla North property, which is located in the Peace River Arch area of Alberta and is characterized by shallow declines and a production base, and Deep Basin properties, which include Karr, Simonette, Kakwa, Elmworth and Wapiti, which are located southwest of Grande Prairie, Alberta.
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