Whitecap Resources Inc. (TSE:WCP) Given Average Recommendation of “Buy” by Brokerages

Whitecap Resources Inc. (TSE:WCP) has received an average rating of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$13.57.

Several research firms have commented on WCP. Scotiabank boosted their price target 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. National Bankshares decreased their price objective on Whitecap Resources from C$15.50 to C$14.50 in a research note on Friday, September 27th. Finally, Jefferies Financial Group cut their target price on shares of Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research note on Monday, September 16th.

Whitecap Resources Price Performance

WCP opened at C$10.99 on Friday. The stock’s 50-day moving average price is C$10.25 and its 200 day moving average price is C$10.27. Whitecap Resources has a 12-month low of C$8.15 and a 12-month high of C$11.35. The firm has a market cap of C$6.59 billion, a price-to-earnings ratio of 8.79, a PEG ratio of -0.33 and a beta of 2.67. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 23.55.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings results on Wednesday, July 24th. The company reported C$0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.29 by C$0.12. The business had revenue of C$1.05 billion for the quarter, compared to analysts’ expectations of C$946.00 million. Whitecap Resources had a net margin of 22.43% and a return on equity of 13.89%. As a group, sell-side analysts expect that Whitecap Resources will post 1.1226131 earnings per share for the current year.

Whitecap Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.061 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.73 annualized dividend and a dividend yield of 6.66%. Whitecap Resources’s dividend payout ratio is presently 58.40%.

Insider Activity

In other Whitecap Resources news, Director Grant Bradley Fagerheim sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$10.22, for a total transaction of C$204,400.00. Company insiders own 0.84% of the company’s stock.

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.