Whitecap Resources Inc. (TSE:WCP) Given Average Recommendation of “Buy” by Brokerages
Shares of Whitecap Resources Inc. (TSE:WCP) have been assigned a consensus rating of “Buy” from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$13.66.
WCP has been the subject of a number of analyst reports. National Bank Financial cut their price objective on shares of Whitecap Resources from C$13.50 to C$12.00 in a research report on Friday, June 23rd. Scotiabank restated an “outperform” rating and set a C$15.00 price objective on shares of Whitecap Resources in a research report on Thursday, May 4th. TD Securities restated a “buy” rating and set a C$14.00 price objective on shares of Whitecap Resources in a research report on Thursday, May 4th. Raymond James Financial, Inc. restated an “outperform” rating and set a C$14.00 price objective on shares of Whitecap Resources in a research report on Thursday, April 20th. Finally, Royal Bank Of Canada cut their price objective on shares of Whitecap Resources from C$15.00 to C$12.00 in a research report on Thursday, July 20th.
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Shares of Whitecap Resources (WCP) traded down 0.96% during trading on Friday, reaching $9.26. 1,433,874 shares of the company’s stock were exchanged. Whitecap Resources has a 12-month low of $8.66 and a 12-month high of $12.90. The company has a 50 day moving average of $9.18 and a 200 day moving average of $9.89. The stock has a market cap of $3.43 billion and a P/E ratio of 11.36.
The business also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a dividend of $0.023 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.98%.
In other Whitecap Resources news, Director Grant Bradley Fagerheim acquired 12,000 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were purchased at an average cost of C$9.13 per share, with a total value of C$109,560.00. Also, insider Joel Maxwell Armstrong acquired 11,000 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was acquired at an average cost of C$9.01 per share, for a total transaction of C$99,110.00. Over the last ninety days, insiders have bought 28,000 shares of company stock worth $254,270.
Whitecap Resources Company Profile
Whitecap Resources Inc is a Canada-based oil-weighted growth company focused on its existing assets enhanced by oil-based acquisitions. Its assets include Boundary Lake property, which is located in northeast British Columbia; Valhalla North property, which is located in the Peace River Arch area of Alberta and is characterized by shallow declines and a production base, and Deep Basin properties, which include Karr, Simonette, Kakwa, Elmworth and Wapiti, which are located southwest of Grande Prairie, Alberta.
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