Whitecap Resources Inc. (TSE:WCP) Receives C$12.88 Average Price Target from Analysts

Whitecap Resources Inc. (TSE:WCP) has been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$12.88.

A number of research analysts recently weighed in on the stock. National Bankshares lifted their price objective on shares of Whitecap Resources from C$14.50 to C$15.00 and gave the company an “outperform” rating in a report on Thursday, May 22nd. Raymond James lifted their price objective on shares of Whitecap Resources from C$11.50 to C$12.00 and gave the company an “outperform” rating in a report on Thursday, May 22nd. National Bank Financial upgraded shares of Whitecap Resources to a “strong-buy” rating in a report on Monday, May 12th. Desjardins dropped their price objective on shares of Whitecap Resources from C$12.00 to C$11.50 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, CIBC dropped their price objective on shares of Whitecap Resources from C$14.50 to C$13.00 in a report on Thursday, April 10th.

Insiders Place Their Bets

In related news, Senior Officer Thanh Chan Kang bought 9,720 shares of the stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of C$8.43 per share, for a total transaction of C$81,939.60. Also, Director Grant Bradley Fagerheim bought 8,500 shares of the stock in a transaction dated Tuesday, May 20th. The stock was bought at an average price of C$8.55 per share, with a total value of C$72,675.00. Insiders bought 131,620 shares of company stock worth $1,105,011 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Whitecap Resources Price Performance

Whitecap Resources stock opened at C$8.75 on Friday. The company’s 50 day simple moving average is C$8.33 and its 200-day simple moving average is C$9.33. The company has a market capitalization of C$5.11 billion, a price-to-earnings ratio of 5.90, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. Whitecap Resources has a 1 year low of C$6.87 and a 1 year high of C$11.31. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88.

Whitecap Resources Dividend Announcement

The company also recently declared a apr 25 dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.0608 per share. This represents a yield of 8.97%. The ex-dividend date was Wednesday, April 30th. Whitecap Resources’s dividend payout ratio (DPR) is presently 49.25%.

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.