Insider Buying: Whitecap Resources (WCP) Insider Buys 10,000 Shares of Stock

Whitecap Resources (TSE:WCP) insider Thanh Chan Kang bought 10,000 shares of Whitecap Resources stock in a transaction dated Friday, March 9th. The shares were bought at an average cost of C$7.75 per share, for a total transaction of C$77,500.00.

Whitecap Resources stock traded up C$0.19 during mid-day trading on Tuesday, reaching C$7.78. 1,661,563 shares of the company’s stock were exchanged, compared to its average volume of 1,935,930. Whitecap Resources has a one year low of C$7.40 and a one year high of C$10.66.

Whitecap Resources (TSE:WCP) last released its quarterly earnings data on Wednesday, February 28th. The company reported C$0.09 earnings per share (EPS) 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 company had revenue of C$285.01 million for the quarter, compared to analyst estimates of C$256.40 million.

The firm also recently announced 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 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Wednesday, March 28th.

Several analysts recently weighed in on WCP shares. CIBC reaffirmed an “outperform” rating and issued a C$12.50 price objective on shares of Whitecap Resources in a research note on Tuesday, December 5th. BMO Capital Markets increased their target price 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. TD Securities raised their price objective on Whitecap Resources from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Needham & Company LLC reaffirmed an “outperform” rating and set a C$13.00 target price on shares of Whitecap Resources in a research note on Friday, December 15th. Finally, National Bank Financial raised their target price on Whitecap Resources from C$13.00 to C$14.50 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of C$13.08.

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Whitecap Resources Company Profile

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.

Insider Buying and Selling by Quarter for Whitecap Resources (TSE:WCP)

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