Whitecap Resources (WCP) Trading 1.2% Higher on Analyst Upgrade

Shares of Whitecap Resources Inc. (TSE:WCP) traded up 1.2% on Tuesday after National Bank Financial raised their price target on the stock from C$13.00 to C$14.50. National Bank Financial currently has an outperform rating on the stock. Whitecap Resources traded as high as C$9.17 and last traded at C$9.12. 1,830,884 shares were traded during trading, an increase of 37% from the average session volume of 1,338,630 shares. The stock had previously closed at C$9.01.

A number of other research firms have also weighed in on WCP. Barclays upped their target price on shares of Whitecap Resources from C$10.00 to C$11.00 in a research note on Thursday, November 2nd. Raymond James Financial upped their price target on Whitecap Resources from C$13.00 to C$13.25 and gave the company an “outperform” rating in a report on Thursday, November 2nd. TD Securities upped their price target on Whitecap Resources from C$12.00 to C$13.00 and gave the company a “buy” rating in a report on Tuesday, December 5th. BMO Capital Markets upped their price target on Whitecap Resources from C$12.50 to C$13.00 and gave the company an “outperform” rating in a report on Tuesday, December 5th. Finally, CIBC reaffirmed an “outperform” rating and issued a C$12.50 price target on shares of Whitecap Resources in a report on Tuesday, December 5th. Seven investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of C$13.11.

In other Whitecap Resources news, Director Grant Bradley Fagerheim purchased 10,200 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was purchased at an average cost of C$8.91 per share, with a total value of C$90,882.00.

The stock has a market cap of $3,950.00, a P/E ratio of 11.80 and a beta of 1.03.

The business also recently declared a monthly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were paid a dividend of $0.023 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Wednesday, November 29th. Whitecap Resources’s dividend payout ratio (DPR) is presently 34.95%.

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Whitecap Resources Company Profile

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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