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

Whitecap Resources Inc. (TSE:WCP) has earned an average recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is C$12.88.

WCP has been the topic of several research analyst reports. National Bank Financial upgraded shares of Whitecap Resources to a “strong-buy” rating in a report 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 target price on the stock in a report on Thursday, May 22nd. Raymond James Financial raised their target price on shares of Whitecap Resources from C$11.50 to C$12.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. National Bankshares raised their target price on shares of Whitecap Resources from C$14.50 to C$15.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Finally, CIBC dropped their target price on shares of Whitecap Resources from C$14.50 to C$13.00 in a report on Thursday, April 10th.

Insider Buying and Selling

In related news, insider Whitecap Resources Inc. sold 619,983 shares of the company’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 bought 10,000 shares of the stock in a transaction on Wednesday, April 9th. The shares were acquired at an average cost of C$7.17 per share, with a total value of C$71,700.00. Over the last three months, insiders have bought 101,200 shares of company stock worth $853,698. Insiders own 0.84% of the company’s stock.

Whitecap Resources Stock Performance

Shares of WCP stock opened at C$9.56 on Wednesday. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88. The company has a market capitalization of C$5.58 billion, a P/E ratio of 6.45, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The company’s 50 day moving average price is C$8.50 and its two-hundred day moving average price is C$9.18. 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 company also recently announced a jun 25 dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.0608 per share. Whitecap Resources’s payout ratio is 49.25%.

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.