Whitecap Resources Inc. (TSE:WCP) has received an average recommendation of “Buy” from the ten ratings firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$13.08.
A number of brokerages have recently weighed in on WCP. Barclays raised their price target on Whitecap Resources from C$11.00 to C$12.00 in a research report on Wednesday, January 17th. National Bank Financial raised their price target on Whitecap Resources from C$13.00 to C$14.50 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. BMO Capital Markets raised their price target on Whitecap Resources from C$12.50 to C$13.00 and gave the company an “outperform” rating in a research report on Tuesday, December 5th. CIBC restated an “outperform” rating and issued a C$12.50 price target on shares of Whitecap Resources in a research report on Tuesday, December 5th. Finally, TD Securities raised their price target on Whitecap Resources from C$12.00 to C$13.00 and gave the company a “buy” rating in a research report on Tuesday, December 5th.
In other Whitecap Resources news, insider Jeffery Byron Zdunich sold 25,067 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of C$8.77, for a total value of C$219,837.59. Also, Director Grant Bradley Fagerheim purchased 10,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was acquired at an average cost of C$9.69 per share, for a total transaction of C$96,900.00. In the last quarter, insiders have purchased 43,800 shares of company stock valued at $355,505.
Shares of WCP stock traded up C$0.04 during mid-day trading on Thursday, hitting C$7.71. The stock had a trading volume of 3,243,342 shares, compared to its average volume of 1,847,812. Whitecap Resources has a twelve month low of C$7.40 and a twelve month high of C$10.66. The stock has a market capitalization of $3,220.00, a PE ratio of -24.09 and a beta of 1.05.
Whitecap Resources (TSE:WCP) last announced its quarterly earnings results on Wednesday, February 28th. The company reported C$0.09 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.02. Whitecap Resources had a return on equity of 0.46% and a net margin of 1.91%. The business had revenue of C$285.01 million during the quarter, compared to analysts’ expectations of C$256.40 million.
The business also recently disclosed a monthly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 16th will be given a dividend of $0.0257 per share. This represents a $0.31 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Wednesday, March 28th. Whitecap Resources’s dividend payout ratio is presently -87.75%.
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About Whitecap Resources
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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