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

Whitecap Resources Inc. (TSE:WCP) shares shot up 1.2% during mid-day trading 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.

Other research analysts have also issued reports about the stock. Barclays boosted their price target on shares of Whitecap Resources from C$10.00 to C$11.00 in a research note on Thursday, November 2nd. TD Securities boosted their price target on shares of Whitecap Resources from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research note on Tuesday, December 5th. Raymond James Financial boosted their price target on shares of Whitecap Resources from C$13.00 to C$13.25 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. BMO Capital Markets boosted their price target on shares of Whitecap Resources from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 5th. Finally, CIBC reiterated an “outperform” rating and set a C$12.50 price target on shares of Whitecap Resources in a research note on Tuesday, December 5th. Seven equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of C$13.11.

In related news, Director Grant Bradley Fagerheim bought 10,200 shares of the stock in a transaction on Monday, December 4th. The shares were bought at an average cost of C$8.91 per share, for a total transaction of C$90,882.00.

The company has a market cap of $3,950.00, a PE ratio of 11.80 and a beta of 1.03.

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