Whitecap Resources Inc. (TSE:WCP) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• Analysts maintain a bullish outlook: Thirteen brokerages collectively rate Whitecap Resources “Buy,” including 10 buy ratings and three strong-buy ratings. The average 12-month price target is C$18.55, with several firms recently raising their targets.
• Insiders have been buying shares: Company insiders purchased 31,500 shares worth approximately C$481,010 over the past 90 days, while insiders collectively own 0.84% of the stock.
• Whitecap reported solid results and offers income: The company posted quarterly EPS of C$0.73 on C$2.35 billion in revenue and declared a monthly dividend of C$0.0608, representing an annualized yield of about 4.3%.

Whitecap Resources Inc. (TSE:WCP - Get Free Report) has been given an average rating of "Buy" by the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$18.55.

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on Whitecap Resources from C$18.00 to C$20.00 and gave the stock an "outperform" rating in a report on Tuesday, May 26th. Raymond James Financial lifted their target price on Whitecap Resources from C$18.00 to C$20.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Desjardins set a C$22.00 price target on Whitecap Resources and gave the stock a "buy" rating in a research report on Friday, July 17th. TD boosted their price target on Whitecap Resources from C$17.00 to C$18.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, National Bank Financial increased their price target on Whitecap Resources from C$25.00 to C$26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th.

Insider Activity at Whitecap Resources

In related news, insider Travis Bjarne Tweit bought 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of C$15.48 per share, for a total transaction of C$46,440.00. Following the transaction, the insider directly owned 230,204 shares of the company's stock, valued at approximately C$3,563,557.92. This represents a 1.32% increase in their position. Also, insider Joseph Adam Wong bought 7,500 shares of the stock in a transaction on Monday, July 6th. The shares were bought at an average cost of C$14.46 per share, for a total transaction of C$108,450.00. Following the purchase, the insider owned 111,416 shares in the company, valued at C$1,611,075.36. This trade represents a 7.22% increase in their position. Insiders purchased 31,500 shares of company stock worth $481,010 in the last 90 days. Corporate insiders own 0.84% of the company's stock.

Whitecap Resources Stock Performance

Whitecap Resources stock opened at C$17.07 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.56 and a debt-to-equity ratio of 24.14. The firm has a 50-day moving average price of C$15.87 and a two-hundred day moving average price of C$15.10. The firm has a market capitalization of C$20.76 billion, a price-to-earnings ratio of 15.24, a PEG ratio of -0.33 and a beta of 0.16. Whitecap Resources has a 52-week low of C$9.79 and a 52-week high of C$17.34.

Whitecap Resources (TSE:WCP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.73 EPS for the quarter. The company had revenue of C$2.35 billion for the quarter. Whitecap Resources had a net margin of 19.66% and a return on equity of 12.87%. Sell-side analysts expect that Whitecap Resources will post 1.1226131 earnings per share for the current year.

Whitecap Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be issued a $0.0608 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a yield of 4.3%. Whitecap Resources's dividend payout ratio is presently 65.14%.

About Whitecap Resources

Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.

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