Whitecap Resources (TSE:WCP) Upgraded at Tudor Pickering

Tudor Pickering upgraded shares of Whitecap Resources (TSE:WCP) to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

A number of other research analysts have also weighed in on the stock. Raymond James Financial raised their target price on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the company a “strong-buy” rating in a report on Thursday, July 24th. Desjardins raised shares of Whitecap Resources from a “hold” rating to a “buy” rating and raised their target price for the company from C$12.00 to C$12.50 in a report on Tuesday, August 26th. Finally, Scotiabank raised their target price on shares of Whitecap Resources from C$12.00 to C$14.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$13.86.

Whitecap Resources Trading Down 0.5%

Shares of WCP opened at C$10.45 on Wednesday. The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67. Whitecap Resources has a 1 year low of C$6.87 and a 1 year high of C$11.30. The company has a 50 day simple moving average of C$10.50 and a two-hundred day simple moving average of C$9.46. The firm has a market cap of C$12.87 billion, a P/E ratio of 7.16, a price-to-earnings-growth ratio of -0.33 and a beta of 0.66.

Whitecap Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 17th will be paid a dividend of $0.0608 per share. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, October 31st. Whitecap Resources’s payout ratio is presently 49.97%.

Insider Buying and Selling

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

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.