Whitecap Resources (TSE:WCP) Rating Increased to Outperform at Scotiabank

Scotiabank upgraded shares of Whitecap Resources (TSE:WCP) from a sector perform rating to an outperform rating in a research note published on Tuesday,BayStreet.CA reports. The brokerage currently has C$12.00 price target on the stock.

A number of other brokerages also recently issued reports on WCP. Desjardins dropped their price target on shares of Whitecap Resources from C$12.00 to C$11.50 and set a “buy” rating on the stock in a report on Tuesday, April 15th. CIBC reduced their price objective on Whitecap Resources from C$14.50 to C$13.00 in a research report on Thursday, April 10th. Raymond James upped their price objective on Whitecap Resources from C$11.50 to C$12.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, National Bankshares increased their price objective on shares of Whitecap Resources from C$14.50 to C$15.00 and gave the stock an “outperform” rating in a research note on Tuesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$12.88.

Whitecap Resources Stock Performance

Shares of TSE WCP opened at C$8.71 on Tuesday. The firm’s 50-day moving average price is C$8.36 and its 200-day moving average price is C$9.46. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58. The company has a market cap of C$5.09 billion, a PE ratio of 5.88, a PEG ratio of -0.33 and a beta of 2.67. Whitecap Resources has a 52-week low of C$6.87 and a 52-week high of C$11.31.

Whitecap Resources Announces Dividend

The firm also recently disclosed a apr 25 dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th will be paid a $0.0608 dividend. This represents a dividend yield of 8.97%. The ex-dividend date of this dividend is Wednesday, April 30th. Whitecap Resources’s dividend payout ratio (DPR) is presently 49.25%.

Insider Transactions at Whitecap Resources

In other news, Senior Officer Thanh Chan Kang purchased 9,720 shares of the stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of C$8.43 per share, with a total value of C$81,939.60. Also, Director Grant Bradley Fagerheim purchased 30,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of C$8.42 per share, for a total transaction of C$252,600.00. Insiders have acquired 123,120 shares of company stock worth $1,032,336 in the last quarter. Company insiders own 0.84% of the company’s stock.

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.