Whitecap Resources Inc. (TSE:WCP) Receives C$13.86 Average Price Target from Brokerages

Whitecap Resources Inc. (TSE:WCP) has earned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$14.00.

A number of research analysts have recently commented on the stock. TD Securities boosted their price target on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the company a “buy” rating in a research report on Thursday. National Bankshares reduced their price target on shares of Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating for the company in a research report on Wednesday. Tudor Pickering upgraded shares of Whitecap Resources to a “strong-buy” rating in a research report on Wednesday, October 15th. Raymond James Financial boosted their price target on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company a “strong-buy” rating in a research report on Thursday. Finally, Scotiabank boosted their price target on shares of Whitecap Resources from C$12.00 to C$14.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th.

Insider Transactions at Whitecap Resources

In related news, Director Grant Bradley Fagerheim bought 15,000 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The stock was bought at an average cost of C$10.60 per share, for a total transaction of C$159,000.00. Following the completion of the transaction, the director owned 3,220,745 shares of the company’s stock, valued at approximately C$34,139,897. The trade was a 0.47% increase in their ownership of the stock. Insiders have acquired 25,000 shares of company stock valued at $264,150 in the last ninety days. 0.84% of the stock is currently owned by insiders.

Whitecap Resources Stock Up 1.2%

Whitecap Resources stock opened at C$10.63 on Tuesday. Whitecap Resources has a 1-year low of C$6.87 and a 1-year high of C$11.30. The firm has a market capitalization of C$13.09 billion, a price-to-earnings ratio of 7.28, a P/E/G ratio of -0.33 and a beta of 0.66. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. The firm has a 50 day simple moving average of C$10.53 and a 200 day simple moving average of C$9.56.

Whitecap Resources Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 17th will be given a dividend of $0.0608 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Friday, October 31st. Whitecap Resources’s payout ratio is 49.97%.

About Whitecap Resources

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.