Whitecap Resources (TSE:WCP) Upgraded to “Outperform” at Raymond James

Raymond James upgraded shares of Whitecap Resources (TSE:WCP) 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 %

Shares of TSE WCP opened at C$8.44 on Tuesday. The firm’s 50-day simple moving average is C$9.81 and its 200 day simple moving average is C$10.10. The company has a market cap of C$4.93 billion, a price-to-earnings ratio of 5.69, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58. Whitecap Resources has a 12-month low of C$7.88 and a 12-month high of C$11.31.

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.