Whitecap Resources (TSE:WCP) Price Target Raised to C$14.00

Whitecap Resources (TSE:WCP) had its target price increased by TD Securities from C$13.00 to C$14.00 in a research note released on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Scotiabank boosted their price target on Whitecap Resources from C$12.00 to C$14.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Desjardins upgraded Whitecap Resources from a “hold” rating to a “buy” rating and boosted their price target for the company from C$12.00 to C$12.50 in a research note on Tuesday, August 26th. Tudor Pickering upgraded Whitecap Resources to a “strong-buy” rating in a research note on Wednesday, October 15th. National Bankshares lowered their price target on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Raymond James Financial boosted their price target on Whitecap Resources from C$13.00 to C$14.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 24th. Three 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.com, the company presently has an average rating of “Buy” and an average price target of C$14.00.

Whitecap Resources Trading Up 1.2%

Shares of WCP opened at C$10.63 on Thursday. Whitecap Resources has a 12-month low of C$6.87 and a 12-month high of C$11.30. 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 firm has a market capitalization of C$13.09 billion, a price-to-earnings ratio of 7.28, a P/E/G ratio of -0.33 and a beta of 0.66. The stock’s 50-day moving average price is C$10.53 and its 200 day moving average price is C$9.56.

Whitecap Resources Announces Dividend

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

Insider Activity at Whitecap Resources

In other Whitecap Resources news, Director Grant Bradley Fagerheim bought 15,000 shares of Whitecap Resources stock in a transaction dated Friday, October 10th. The shares were acquired at an average cost of C$10.60 per share, with a total value of C$159,000.00. Following the acquisition, the director directly owned 3,220,745 shares of the company’s stock, valued at C$34,139,897. The trade was a 0.47% increase in their ownership of the stock. Over the last 90 days, insiders purchased 25,000 shares of company stock valued at $264,150. 0.84% of the stock is owned by 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.