Raymond James upgraded shares of Whitecap Resources (TSE:WCP – Free Report) from a market perform rating to an outperform rating in a research note released on Tuesday, Marketbeat reports. The firm currently has C$13.00 price objective on the stock.
Several other brokerages also recently issued reports on WCP. National Bankshares reduced their price target on shares of Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Desjardins reduced their price target on shares of Whitecap Resources from C$13.00 to C$12.00 and set a “buy” rating on the stock in a research report on Tuesday. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$13.52.
Whitecap Resources Stock Down 1.4 %
Whitecap Resources Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 17th will be paid a $0.0608 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 8.64%. Whitecap Resources’s dividend payout ratio (DPR) is presently 49.25%.
Insider Activity
In other Whitecap Resources news, Director Grant Bradley Fagerheim bought 30,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of C$8.42 per share, with a total value of C$252,600.00. Also, Senior Officer Thanh Chan Kang bought 9,720 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of C$8.43 per share, with a total value of C$81,939.60. 0.84% of the stock is currently owned by company insiders.
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.
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