Brokerages Set Whitecap Resources Inc. (TSE:WCP) Target Price at C$13.61

Whitecap Resources Inc. (TSE:WCP - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$13.61.

Several research analysts have weighed in on WCP shares. Scotiabank upped their price objective on shares of Whitecap Resources from C$12.00 to C$13.00 in a research note on Friday, July 12th. Royal Bank of Canada upgraded Whitecap Resources to a "moderate buy" rating in a report on Friday, July 26th. ATB Capital lowered their target price on Whitecap Resources from C$15.00 to C$14.50 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Jefferies Financial Group dropped their target price on Whitecap Resources from C$12.00 to C$11.00 and set a "buy" rating on the stock in a research report on Monday, September 16th. Finally, Desjardins lifted their price target on Whitecap Resources from C$12.75 to C$13.00 and gave the company a "buy" rating in a report on Thursday, October 24th.

Insider Activity at Whitecap Resources

In other Whitecap Resources news, Director Grant Bradley Fagerheim sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of C$10.22, for a total value of C$204,400.00. In related news, Senior Officer Joel Maxwell Armstrong acquired 10,000 shares of the firm's stock in a transaction on Monday, October 28th. The shares were bought at an average cost of C$10.43 per share, with a total value of C$104,300.00. Also, Director Grant Bradley Fagerheim sold 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of C$10.22, for a total value of C$204,400.00. Corporate insiders own 0.84% of the company's stock.

Whitecap Resources Stock Up 0.4 %

TSE:WCP traded up C$0.04 on Tuesday, hitting C$10.42. 1,641,201 shares of the company's stock traded hands, compared to its average volume of 2,302,719. The firm has a 50-day moving average price of C$10.38 and a 200-day moving average price of C$10.28. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 23.55. The company has a market cap of C$6.24 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. Whitecap Resources has a 1 year low of C$8.15 and a 1 year high of C$11.31.

Whitecap Resources Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.0608 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.73 annualized dividend and a dividend yield of 7.00%. Whitecap Resources's payout ratio is 58.40%.

About Whitecap Resources

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.