Shares of Whitecap Resources Inc. (TSE:WCP) have been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$13.41.
A number of equities analysts recently weighed in on the stock. CIBC boosted their target price on shares of Whitecap Resources from C$12.50 to C$12.75 in a report on Friday, July 20th. Raymond James boosted their target price on shares of Whitecap Resources from C$13.50 to C$14.00 in a report on Thursday, July 5th. Industrial Alliance Securities restated a “buy” rating and set a C$13.00 target price on shares of Whitecap Resources in a report on Wednesday, May 23rd. National Bank Financial boosted their target price on shares of Whitecap Resources from C$14.50 to C$16.00 and gave the stock a “c$9.00” rating in a report on Wednesday, July 18th. Finally, Scotiabank restated an “outperform” rating and set a C$13.50 target price on shares of Whitecap Resources in a report on Thursday, May 17th.
In other news, Director Grant Bradley Fagerheim bought 20,000 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were acquired at an average cost of C$8.13 per share, for a total transaction of C$162,600.00. Over the last 90 days, insiders have purchased 30,690 shares of company stock worth $257,065.
Shares of WCP stock traded down C$0.12 during trading on Thursday, reaching C$7.75. The company’s stock had a trading volume of 1,564,317 shares, compared to its average volume of 1,764,565. Whitecap Resources has a one year low of C$7.40 and a one year high of C$10.36.
Whitecap Resources (TSE:WCP) last announced its quarterly earnings data on Wednesday, August 1st. The company reported C($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of C$0.11 by C($0.12). The business had revenue of C$436.24 million during the quarter, compared to the consensus estimate of C$345.60 million. Whitecap Resources had a return on equity of 0.46% and a net margin of 1.91%.
The company also recently announced a monthly dividend, which was paid on Wednesday, August 15th. Investors of record on Wednesday, August 15th were issued a dividend of $0.027 per share. This represents a $0.32 dividend on an annualized basis and a yield of 4.18%. This is an increase from Whitecap Resources’s previous monthly dividend of $0.03. The ex-dividend date of this dividend was Monday, July 30th.
About Whitecap Resources
Whitecap Resources Inc acquires and develops petroleum and natural gas properties in the Western Canada Sedimentary Basin. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southeast Saskatchewan.
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