Whitecap Resources (TSE:WCP) Director Purchases C$51,600.00 in Stock

Key Points

• Grant Bradley Fagerheim, a director at Whitecap Resources, recently purchased 5,000 shares of the company for a total of C$51,600, increasing his ownership to over 3.19 million shares.
• Whitecap Resources announced a dividend of $0.0608 per share, to be paid on October 15th to shareholders recorded by September 30th.
• Analyst ratings for Whitecap Resources have improved, with ratings from Desjardins and Raymond James upgrading the stock to "buy" and "strong-buy" respectively, and an average price target of C$13.57.

Whitecap Resources Inc. (TSE:WCP - Get Free Report) Director Grant Bradley Fagerheim bought 5,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were acquired at an average cost of C$10.32 per share, for a total transaction of C$51,600.00. Following the purchase, the director owned 3,195,745 shares in the company, valued at C$32,980,088.40. The trade was a 0.16% increase in their ownership of the stock.

Grant Bradley Fagerheim also recently made the following trade(s):

• On Wednesday, July 30th, Grant Bradley Fagerheim purchased 5,000 shares of Whitecap Resources stock. The shares were bought at an average price of C$10.71 per share, for a total transaction of C$53,550.00.
• On Thursday, July 10th, Grant Bradley Fagerheim bought 15,000 shares of Whitecap Resources stock. The stock was bought at an average cost of C$9.43 per share, for a total transaction of C$141,450.00.

Whitecap Resources Trading Up 0.8%

TSE WCP traded up C$0.09 during trading hours on Tuesday, reaching C$11.14. The company had a trading volume of 3,098,697 shares, compared to its average volume of 6,142,610. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. The stock has a market capitalization of C$13.72 billion, a P/E ratio of 7.63, a price-to-earnings-growth ratio of -0.33 and a beta of 0.74. The stock has a 50-day moving average of C$10.30 and a 200 day moving average of C$9.24. Whitecap Resources Inc. has a 1-year low of C$6.87 and a 1-year high of C$11.31.

Whitecap Resources Announces Dividend

The firm also recently declared a sep 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.0608 dividend. Whitecap Resources's dividend payout ratio (DPR) is 49.97%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Raymond James Financial increased their price objective 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. Desjardins upgraded Whitecap Resources from a "hold" rating to a "buy" rating and increased their price objective for the stock from C$12.00 to C$12.50 in a research report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of C$13.57.

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.