Whitecap Resources (TSE:WCP) Price Target Raised to C$15.00

Whitecap Resources (TSE:WCP) had its price objective increased by Raymond James Financial from C$14.00 to C$15.00 in a research report sent to investors on Thursday,BayStreet.CA reports. Raymond James Financial currently has a strong-buy rating on the stock.

WCP has been the topic of several other reports. TD Securities increased their price target on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the company a “buy” rating in a report on Thursday. National Bankshares lowered their price target on shares of Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a report on Wednesday. Scotiabank increased their price target on shares of Whitecap Resources from C$12.00 to C$14.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Tudor Pickering raised shares of Whitecap Resources to a “strong-buy” rating in a report on Wednesday, October 15th. Finally, Desjardins raised shares of Whitecap Resources from a “hold” rating to a “buy” rating and increased their price target for the company from C$12.00 to C$12.50 in a report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Whitecap Resources presently has an average rating of “Buy” and an average target price of C$14.00.

Whitecap Resources Trading Up 1.2%

Shares of TSE:WCP opened at C$10.63 on Thursday. Whitecap Resources has a 52-week low of C$6.87 and a 52-week high of C$11.30. The company has a market capitalization of C$13.09 billion, a P/E ratio of 7.28, a price-to-earnings-growth ratio of -0.33 and a beta of 0.66. The company has a 50-day simple moving average of C$10.53 and a 200 day simple moving average of C$9.56. 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 Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 17th will be issued a dividend of $0.0608 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 6.9%. Whitecap Resources’s dividend payout ratio (DPR) is currently 49.97%.

Insider Activity at Whitecap Resources

In other Whitecap Resources news, Director Grant Bradley Fagerheim bought 15,000 shares of the stock in a transaction dated Friday, October 10th. The shares were bought at an average cost of C$10.60 per share, with a total value of C$159,000.00. Following the completion of the acquisition, the director owned 3,220,745 shares of the company’s stock, valued at C$34,139,897. This trade represents a 0.47% increase in their ownership of the stock. Insiders have purchased 25,000 shares of company stock worth $264,150 over the last quarter. 0.84% of the stock is currently owned by company insiders.

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.