Brokerages Set Whitecap Resources Inc. (TSE:WCP) Price Target at C$12.88

Whitecap Resources Inc. (TSE:WCP) has been given an average rating of “Buy” by the seven ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$12.88.

Several research firms have weighed in on WCP. CIBC lowered their price objective on shares of Whitecap Resources from C$14.50 to C$13.00 in a research report on Thursday, April 10th. National Bankshares raised their target price on shares of Whitecap Resources from C$14.50 to C$15.00 and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Scotiabank raised shares of Whitecap Resources from a “sector perform” rating to an “outperform” rating and set a C$12.00 target price on the stock in a research note on Thursday, May 22nd. National Bank Financial raised shares of Whitecap Resources to a “strong-buy” rating in a research note on Monday, May 12th. Finally, Raymond James Financial raised their target price on shares of Whitecap Resources from C$11.50 to C$12.00 and gave the company an “outperform” rating in a research note on Thursday, May 22nd.

Insider Buying and Selling

In other news, Senior Officer Thanh Chan Kang acquired 10,000 shares of Whitecap Resources stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average price of C$8.73 per share, with a total value of C$87,300.00. Also, Director Grant Bradley Fagerheim acquired 5,000 shares of Whitecap Resources stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of C$7.60 per share, for a total transaction of C$38,000.00. Insiders have bought 101,200 shares of company stock valued at $853,698 in the last 90 days. 0.84% of the stock is owned by insiders.

Whitecap Resources Trading Down 0.6%

WCP opened at C$9.56 on Wednesday. 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 stock has a market capitalization of C$5.58 billion, a PE ratio of 6.45, a PEG ratio of -0.33 and a beta of 2.67. Whitecap Resources has a 1-year low of C$6.87 and a 1-year high of C$11.31. The firm has a 50-day moving average price of C$8.50 and a two-hundred day moving average price of C$9.18.

Whitecap Resources Dividend Announcement

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

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.