Whitecap Resources Inc. (TSE:WCP) Receives C$13.13 Consensus Target Price from Analysts

Key Points

• Whitecap Resources Inc. has received an average recommendation of "Buy" from seven analysts, with two analysts issuing a strong buy rating and one a hold recommendation.
• The company recently raised its dividend to $0.0608 with a significant dividend yield of 754.0%, payable on August 15th to investors of record as of July 31st.
• Currently, Whitecap Resources' stock price is C$10.20, after experiencing a 0.7% decline, with a market cap of C$5.96 billion.

Shares of Whitecap Resources Inc. (TSE:WCP - Get Free Report) have been given a consensus rating of "Buy" by the seven brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$13.13.

Several brokerages have recently issued reports on WCP. Desjardins cut shares of Whitecap Resources from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. National Bank Financial upgraded Whitecap Resources to a "strong-buy" rating in a research report on Monday, May 12th. National Bankshares raised their price objective on 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 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 report on Thursday, May 22nd. Finally, Raymond James Financial increased their price target on 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.

Whitecap Resources Price Performance

Whitecap Resources stock traded down C$0.03 during mid-day trading on Thursday, reaching C$10.11. 4,701,646 shares of the company's stock traded hands, compared to its average volume of 6,191,437. Whitecap Resources has a 12-month low of C$6.87 and a 12-month high of C$11.31. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58. The stock has a 50 day moving average of C$9.55 and a two-hundred day moving average of C$9.12. The company has a market cap of C$5.90 billion, a price-to-earnings ratio of 6.82, a PEG ratio of -0.33 and a beta of 2.67.

Whitecap Resources Announces Dividend

The firm also recently declared a jul 25 dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be paid a dividend of $0.0608 per share. This represents a dividend yield of 754.0%. The ex-dividend date of this dividend is Thursday, July 31st. Whitecap Resources's dividend payout ratio (DPR) is currently 49.25%.

Insider Buying and Selling

In related news, Director Bradley John Wall bought 11,500 shares of the company's stock in a transaction on Thursday, May 29th. The shares were acquired at an average cost of C$8.77 per share, for a total transaction of C$100,855.00. Also, Director Grant Bradley Fagerheim bought 5,000 shares of Whitecap Resources stock in a transaction dated Wednesday, July 30th. The shares were bought at an average cost of C$10.71 per share, for a total transaction of C$53,550.00. Insiders have purchased a total of 50,000 shares of company stock valued at $455,730 over the last three months. 0.84% of the stock is owned by corporate 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.