Whitecap Resources (TSE:WCP) Upgraded by Raymond James Financial to “Strong-Buy” Rating

Raymond James Financial upgraded shares of Whitecap Resources (TSE:WCP) from an outperform rating to a strong-buy rating in a research note released on Thursday morning,BayStreet.CA reports. The brokerage currently has C$13.00 price objective on the stock, up from their previous price objective of C$12.00.

WCP has been the topic of a number of other research reports. Desjardins downgraded Whitecap Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, June 3rd. CIBC dropped their price target on shares of Whitecap Resources from C$14.50 to C$13.00 in a research report on Thursday, April 10th. Scotiabank raised shares of Whitecap Resources from a “sector perform” rating to an “outperform” rating and set a C$12.00 price target on the stock in a research note on Thursday, May 22nd. National Bankshares upped their price objective on shares of Whitecap Resources from C$14.50 to C$15.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Finally, National Bank Financial raised shares of Whitecap Resources to a “strong-buy” rating in a research report on Monday, May 12th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$13.00.

Whitecap Resources Stock Up 0.2%

WCP stock opened at C$9.24 on Thursday. Whitecap Resources has a one year low of C$6.87 and a one year high of C$11.31. The firm has a market cap of C$5.39 billion, a PE ratio of 6.23, a PEG ratio of -0.33 and a beta of 2.67. The firm’s 50 day moving average price is C$8.70 and its 200-day moving average price is C$9.13. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88.

Whitecap Resources Announces Dividend

The firm also recently disclosed a jun 25 dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.0608 dividend. Whitecap Resources’s payout ratio is 49.25%.

Insider Activity at Whitecap Resources

In other Whitecap Resources news, Director Bradley John Wall purchased 11,500 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was bought at an average price of C$8.77 per share, with a total value of C$100,855.00. Also, Director Grant Bradley Fagerheim purchased 15,000 shares of the company’s stock in a transaction on Friday, May 9th. The stock was acquired at an average price of C$8.06 per share, with a total value of C$120,900.00. Over the last quarter, insiders acquired 65,000 shares of company stock worth $529,430. Corporate insiders own 0.84% of the company’s stock.

Whitecap Resources Company Profile

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap’s Canadian assets.