Brokerages Set Whitecap Resources Inc. (TSE:WCP) Price Target at C$12.88

Whitecap Resources Inc. (TSE:WCP) has been assigned an average recommendation of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation 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$12.88.

A number of research analysts recently commented on the stock. CIBC lowered their price objective on shares of Whitecap Resources from C$14.50 to C$13.00 in a research note on Thursday, April 10th. National Bank Financial upgraded shares of Whitecap Resources to a “strong-buy” rating in a research note on Monday, May 12th. Scotiabank upgraded shares of Whitecap Resources from a “sector perform” rating to an “outperform” rating and set a C$12.00 price objective on the stock in a research note on Thursday, May 22nd. National Bankshares raised 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 research note on Thursday, May 22nd. Finally, Desjardins lowered shares of Whitecap Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, June 3rd.

Whitecap Resources Price Performance

TSE WCP opened at C$9.56 on Wednesday. Whitecap Resources has a 12 month low of C$6.87 and a 12 month high of C$11.31. The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67. The firm has a market capitalization of C$5.58 billion, a PE ratio of 6.45, a P/E/G ratio of -0.33 and a beta of 2.67. The company’s 50 day simple moving average is C$8.50 and its 200 day simple moving average is C$9.17.

Whitecap Resources Dividend Announcement

The company also recently disclosed a jun 25 dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.0608 dividend. Whitecap Resources’s dividend payout ratio is 49.25%.

Insider Buying and Selling at Whitecap Resources

In other news, insider Whitecap Resources Inc. sold 619,983 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of C$8.72, for a total transaction of C$5,406,251.76. Also, Director Grant Bradley Fagerheim acquired 11,200 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were bought at an average price of C$9.39 per share, for a total transaction of C$105,168.00. Insiders purchased 91,200 shares of company stock valued at $759,898 in the last quarter. Company insiders own 0.84% of the company’s stock.

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.