Whitecap Resources Inc. (TSE:WCP) Receives C$14.92 Consensus Price Target from Brokerages

Shares of Whitecap Resources Inc. (TSE:WCP – Get Rating) have earned an average recommendation of “Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$14.92.

A number of analysts have weighed in on WCP shares. National Bankshares increased their price objective on Whitecap Resources from C$15.00 to C$15.50 and gave the stock an “outperform” rating in a research report on Thursday, February 23rd. BMO Capital Markets reduced their price target on Whitecap Resources from C$14.00 to C$12.00 in a report on Tuesday, December 13th. Stifel Nicolaus raised their price target on Whitecap Resources from C$13.50 to C$14.00 in a report on Friday, February 24th. TD Securities raised their price target on Whitecap Resources from C$16.50 to C$17.00 and gave the company a “buy” rating in a report on Wednesday, December 21st. Finally, Barclays set a C$14.00 price target on Whitecap Resources and gave the company an “overweight” rating in a report on Wednesday, January 18th.

Whitecap Resources Trading Down 1.2 %

TSE:WCP opened at C$9.52 on Thursday. The stock’s 50 day moving average price is C$10.62 and its 200 day moving average price is C$10.23. The company has a market capitalization of C$5.79 billion, a PE ratio of 3.73, a P/E/G ratio of -0.33 and a beta of 2.91. The company has a quick ratio of 0.67, a current ratio of 1.29 and a debt-to-equity ratio of 37.10. Whitecap Resources has a 52-week low of C$7.70 and a 52-week high of C$12.71.

Whitecap Resources Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be given a $0.0483 dividend. The ex-dividend date is Thursday, March 30th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 6.09%. This is an increase from Whitecap Resources’s previous monthly dividend of $0.05. Whitecap Resources’s payout ratio is currently 22.75%.

Insider Activity

In related news, Director Grant Bradley Fagerheim sold 130,000 shares of Whitecap Resources stock in a transaction on Thursday, December 22nd. The stock was sold at an average price of C$9.99, for a total value of C$1,298,700.00. Following the transaction, the director now owns 581,200 shares in the company, valued at C$5,806,188. Company insiders own 0.23% of the company’s stock.

About Whitecap Resources

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Whitecap Resources Inc, oil and gas company, acquires and develops petroleum and natural gas properties in Canada. Its principal properties are located in West Central Alberta, British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southwest Saskatchewan. As of February 14, 2022, it had a total proved plus probable reserves of 701,829 thousand barrels of oil equivalent.