Whitecap Resources (TSE:WCP) Rating Increased to Outperform at Scotiabank

Scotiabank upgraded shares of Whitecap Resources (TSE:WCP) from a sector perform rating to an outperform rating in a research note published on Tuesday morning,BayStreet.CA reports. The firm currently has C$12.00 price objective on the stock.

WCP has been the subject of several other reports. National Bankshares upped their price objective on shares of Whitecap Resources from C$14.50 to C$15.00 and gave the stock an “outperform” rating in a report on Tuesday. Desjardins decreased their price objective on shares of Whitecap Resources from C$12.00 to C$11.50 and set a “buy” rating for the company in a report on Tuesday, April 15th. CIBC decreased their price objective on shares of Whitecap Resources from C$14.50 to C$13.00 in a report on Thursday, April 10th. Finally, Raymond James upped their price objective on shares of Whitecap Resources from C$11.50 to C$12.00 and gave the stock an “outperform” rating in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$12.88.

Whitecap Resources Stock Up 3.2%

Shares of TSE WCP opened at C$8.71 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. Whitecap Resources has a 12 month low of C$6.87 and a 12 month high of C$11.31. The firm has a market capitalization of C$5.09 billion, a PE ratio of 5.88, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The firm has a fifty day simple moving average of C$8.36 and a two-hundred day simple moving average of C$9.46.

Whitecap Resources Announces Dividend

The firm also recently declared a apr 25 dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 15th will be paid a $0.0608 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a dividend yield of 8.97%. Whitecap Resources’s payout ratio is 49.25%.

Insider Buying and Selling

In other news, Senior Officer Thanh Chan Kang acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average cost of C$8.45 per share, with a total value of C$84,500.00. Also, Director Grant Bradley Fagerheim acquired 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of C$8.42 per share, for a total transaction of C$252,600.00. Insiders acquired a total of 123,120 shares of company stock worth $1,032,336 in the last three months. 0.84% of the stock is owned by corporate insiders.

Whitecap Resources Company Profile

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap’s Canadian assets.