Brokerages Set Whitecap Resources Inc. (TSE:WCP) Price Target at C$13.61

Shares of Whitecap Resources Inc. (TSE:WCP) have been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$13.61.

A number of research firms have weighed in on WCP. Canaccord Genuity Group cut their price target on shares of Whitecap Resources from C$14.50 to C$14.00 in a research note on Tuesday, October 22nd. Desjardins increased their target price on Whitecap Resources from C$12.75 to C$13.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. ATB Capital lowered their price target on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Jefferies Financial Group dropped their price target on Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Scotiabank lifted their price objective on Whitecap Resources from C$12.00 to C$13.00 in a research note on Friday, July 12th.

Insider Buying and Selling at Whitecap Resources

In other news, Director Mary-Jo Case bought 5,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was acquired at an average cost of C$10.44 per share, for a total transaction of C$52,200.00. In other Whitecap Resources news, Director Grant Bradley Fagerheim sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of C$10.22, for a total transaction of C$204,400.00. Also, Director Mary-Jo Case acquired 5,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were acquired at an average price of C$10.44 per share, for a total transaction of C$52,200.00. 0.84% of the stock is owned by corporate insiders.

Whitecap Resources Stock Performance

Shares of WCP stock opened at C$10.62 on Tuesday. The firm’s 50-day simple moving average is C$10.38 and its 200-day simple moving average is C$10.29. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67. Whitecap Resources has a 1-year low of C$8.15 and a 1-year high of C$11.31. The firm has a market cap of C$6.36 billion, a P/E ratio of 8.50, a PEG ratio of -0.33 and a beta of 2.67.

Whitecap Resources Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be issued a $0.0608 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 6.87%. The ex-dividend date of this dividend is Thursday, October 31st. Whitecap Resources’s dividend payout ratio is presently 58.40%.

About Whitecap Resources

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.