Whitecap Resources Inc. (TSE:WCP) Receives C$13.68 Average Price Target from Brokerages

Shares of Whitecap Resources Inc. (TSE:WCP) have been given an average rating of “Buy” by the nine research firms that are covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$13.52.

WCP has been the subject of a number of recent research reports. National Bankshares lowered their price objective on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Desjardins dropped their price target on shares of Whitecap Resources from C$13.00 to C$12.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Raymond James raised shares of Whitecap Resources from a “market perform” rating to an “outperform” rating and set a C$13.00 price objective on the stock in a research report on Tuesday.

Whitecap Resources Stock Performance

Shares of Whitecap Resources stock opened at C$8.63 on Monday. The firm has a market capitalization of C$5.04 billion, a P/E ratio of 5.82, a P/E/G ratio of -0.33 and a beta of 2.67. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. Whitecap Resources has a 12 month low of C$7.88 and a 12 month high of C$11.31. The business has a fifty day simple moving average of C$9.77 and a two-hundred day simple moving average of C$10.09.

Whitecap Resources Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 17th will be paid a $0.0608 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 8.45%. Whitecap Resources’s dividend payout ratio is presently 49.25%.

Insider Activity at Whitecap Resources

In other news, Director Grant Bradley Fagerheim bought 30,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of C$8.42 per share, with a total value of C$252,600.00. Also, Senior Officer Thanh Chan Kang acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average cost of C$8.45 per share, for a total transaction of C$84,500.00. Insiders have purchased a total of 49,720 shares of company stock worth $419,040 over the last quarter. Company insiders own 0.84% of the company’s stock.

Whitecap Resources Company Profile

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.