Whitecap Resources Inc. (TSE:WCP) Receives Average Rating of “Buy” from Brokerages

Whitecap Resources Inc. (TSE:WCP) has been assigned an average recommendation of “Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$8.13.

Several equities analysts have recently issued reports on WCP shares. CIBC reaffirmed an “outperform” rating and set a C$9.00 price target on shares of Whitecap Resources in a research note on Thursday, July 29th. BMO Capital Markets increased their price objective on shares of Whitecap Resources from C$8.00 to C$9.00 and gave the stock a “na” rating in a research report on Monday, June 21st. Raymond James reiterated a “strong-buy” rating and set a C$9.00 price objective on shares of Whitecap Resources in a research report on Friday, July 30th. Scotiabank increased their price objective on shares of Whitecap Resources from C$7.00 to C$7.50 in a research report on Thursday, July 15th. Finally, National Bank Financial increased their price objective on shares of Whitecap Resources to C$10.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th.

In related news, Director Grant Bradley Fagerheim purchased 10,000 shares of Whitecap Resources stock in a transaction on Wednesday, July 14th. The stock was acquired at an average cost of C$6.00 per share, for a total transaction of C$60,000.00. Following the completion of the acquisition, the director now owns 2,453,636 shares of the company’s stock, valued at approximately C$14,721,816. Insiders acquired 45,000 shares of company stock valued at $255,950 over the last 90 days.

Shares of WCP stock traded down C$0.15 during trading hours on Friday, hitting C$5.68. 3,616,413 shares of the company’s stock traded hands, compared to its average volume of 3,130,673. The stock’s 50 day simple moving average is C$5.49 and its 200 day simple moving average is C$5.73. The stock has a market cap of C$3.59 billion and a PE ratio of 7.26. Whitecap Resources has a 12 month low of C$2.18 and a 12 month high of C$6.82. The company has a quick ratio of 0.53, a current ratio of 0.54 and a debt-to-equity ratio of 62.78.

The business also recently declared a monthly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Tuesday, August 31st were issued a $0.016 dividend. This represents a $0.19 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Monday, August 30th. Whitecap Resources’s payout ratio is 22.44%.

Whitecap Resources Company Profile

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, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southwest Saskatchewan. As of February 24, 2021, it had a total proved plus probable reserves of 507,287 thousand barrels of oil equivalent.

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Analyst Recommendations for Whitecap Resources (TSE:WCP)

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