Whitecap Resources Inc. (TSE:WCP) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Whitecap Resources Inc. has received a consensus rating of "Buy" from seven research firms, which includes one hold, three buy, and three strong buy recommendations.
• Analysts have raised their price targets for Whitecap Resources, with the average twelve-month target now at C$13.86.
• The company has announced a monthly dividend of $0.0608, equating to an annualized yield of 7.1%, with the ex-dividend date set for October 31st.

Whitecap Resources Inc. (TSE:WCP - Get Free Report) has been assigned a consensus rating of "Buy" from the seven research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$13.86.

A number of research analysts recently weighed in on WCP shares. 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 research report on Thursday, October 9th. Tudor Pickering upgraded shares of Whitecap Resources to a "strong-buy" rating in a research report on Wednesday, October 15th. Raymond James Financial raised their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 24th. Finally, Desjardins upgraded shares of Whitecap Resources from a "hold" rating to a "buy" rating and raised their price objective for the stock from C$12.00 to C$12.50 in a research report on Tuesday, August 26th.

Insider Activity at Whitecap Resources

In other news, Director Grant Bradley Fagerheim bought 15,000 shares of the company's stock in a transaction dated 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 transaction, the director 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. In the last ninety days, insiders have purchased 25,000 shares of company stock valued at $264,150. 0.84% of the stock is currently owned by insiders.

Whitecap Resources Trading Down 1.4%

Shares of TSE WCP opened at C$10.30 on Tuesday. The company's 50 day simple moving average is C$10.51 and its 200 day simple moving average is C$9.49. The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67. The firm has a market capitalization of C$12.69 billion, a P/E ratio of 7.05, a P/E/G ratio of -0.33 and a beta of 0.66. Whitecap Resources has a fifty-two week low of C$6.87 and a fifty-two week high of C$11.30.

Whitecap Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 17th will be given a $0.0608 dividend. The ex-dividend date is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 7.1%. Whitecap Resources's payout ratio is presently 49.97%.

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.

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