Whitecap Resources Inc. (TSE:WCP) Given Consensus Rating of “Buy” by Brokerages

Shares of Whitecap Resources Inc. (TSE:WCP) have earned an average rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$13.86.

Several brokerages recently issued reports on WCP. Scotiabank increased their target price on shares of Whitecap Resources from C$12.00 to C$14.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Desjardins raised shares of Whitecap Resources from a “hold” rating to a “buy” rating and increased their target price for the stock from C$12.00 to C$12.50 in a research note on Tuesday, August 26th. Raymond James Financial upped their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 24th. Finally, Tudor Pickering upgraded shares of Whitecap Resources to a “strong-buy” rating in a report on Wednesday, October 15th.

Insider Activity at Whitecap Resources

In other news, Director Grant Bradley Fagerheim bought 15,000 shares of the stock in a transaction dated Friday, October 10th. The stock was bought at an average price of C$10.60 per share, for a total transaction of C$159,000.00. Following the completion of the acquisition, the director directly owned 3,220,745 shares in the company, valued at approximately C$34,139,897. This trade represents a 0.47% increase in their position. Insiders have bought a total of 25,000 shares of company stock valued at $264,150 in the last three months. Corporate insiders own 0.84% of the company’s stock.

Whitecap Resources Trading Down 1.4%

TSE:WCP opened at C$10.30 on Tuesday. The firm’s fifty day moving average is C$10.51 and its 200-day moving average is C$9.49. 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 has a 52 week low of C$6.87 and a 52 week high of C$11.30. The firm has a market cap of C$12.69 billion, a P/E ratio of 7.05, a P/E/G ratio of -0.33 and a beta of 0.66.

Whitecap Resources Dividend Announcement

The company 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 $0.0608 dividend. The ex-dividend date is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 7.1%. Whitecap Resources’s dividend payout ratio is currently 49.97%.

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.