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

Whitecap Resources Inc. (TSE:WCP) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. One research 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 objective among analysts that have issued ratings on the stock in the last year is C$13.83.

A number of research analysts recently weighed in on WCP shares. Tudor Pickering upgraded shares of Whitecap Resources to a “strong-buy” rating in a research report on Wednesday, October 15th. National Bankshares lowered their price objective on shares of Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a research report on Wednesday. TD Securities increased their price objective 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. Raymond James Financial increased their price objective 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, Desjardins upgraded shares of Whitecap Resources from a “hold” rating to a “buy” rating and increased their price objective for the company from C$12.00 to C$12.50 in a research report on Tuesday, August 26th.

Insider Buying and Selling

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

Whitecap Resources Trading Up 2.7%

Shares of TSE WCP opened at C$10.50 on Tuesday. The company has a market cap of C$12.93 billion, a PE ratio of 7.19, a P/E/G ratio of -0.33 and a beta of 0.66. The firm’s 50 day moving average price is C$10.52 and its 200-day moving average price is C$9.52. Whitecap Resources has a 52-week low of C$6.87 and a 52-week high of C$11.30. 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 Dividend Announcement

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