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

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

A number of equities research analysts have recently weighed in on the company. Desjardins boosted their price target on Whitecap Resources from C$12.75 to C$13.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Canaccord Genuity Group dropped their target price on shares of Whitecap Resources from C$14.50 to C$14.00 in a research report on Tuesday, October 22nd. Raymond James upgraded shares of Whitecap Resources to a “hold” rating in a research note on Thursday, October 17th. National Bankshares lowered their price objective on shares of Whitecap Resources from C$15.50 to C$14.50 in a research note on Friday, September 27th. Finally, ATB Capital cut their target price on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a research report on Thursday, October 24th.

Insider Buying and Selling at Whitecap Resources

In related news, Senior Officer Joel Maxwell Armstrong purchased 10,000 shares of Whitecap Resources stock in a transaction that occurred on Monday, October 28th. The stock was bought at an average cost of C$10.43 per share, for a total transaction of C$104,300.00. In other Whitecap Resources news, Director Grant Bradley Fagerheim sold 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$10.22, for a total value of C$204,400.00. Also, Senior Officer Joel Maxwell Armstrong bought 10,000 shares of the stock in a transaction dated Monday, October 28th. The shares were purchased at an average cost of C$10.43 per share, for a total transaction of C$104,300.00. In the last quarter, insiders purchased 25,000 shares of company stock worth $261,300. Insiders own 0.84% of the company’s stock.

Whitecap Resources Stock Down 2.1 %

Shares of WCP stock opened at C$10.40 on Tuesday. The stock’s fifty day moving average price is C$10.38 and its 200 day moving average price is C$10.29. Whitecap Resources has a 1-year low of C$8.15 and a 1-year high of C$11.31. The company has a market cap of C$6.23 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. 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 Cuts Dividend

The firm 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 annualized dividend and a yield of 7.02%. The ex-dividend date is Thursday, October 31st. Whitecap Resources’s payout ratio is 58.40%.

Whitecap Resources Company Profile

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.