Insider Buying: Whitecap Resources Inc. (TSE:WCP) Senior Officer Buys C$104,300.00 in Stock

Whitecap Resources Inc. (TSE:WCP) Senior Officer Joel Maxwell Armstrong purchased 10,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was acquired at an average cost of C$10.43 per share, for a total transaction of C$104,300.00.

Whitecap Resources Price Performance

Shares of TSE WCP opened at C$10.50 on Thursday. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67. Whitecap Resources Inc. has a 1-year low of C$8.15 and a 1-year high of C$11.31. The company has a market capitalization of C$6.29 billion, a price-to-earnings ratio of 8.40, a PEG ratio of -0.33 and a beta of 2.67. The business has a 50-day moving average of C$10.37 and a 200-day moving average of C$10.28.

Whitecap Resources Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be given a $0.0608 dividend. This represents a $0.73 annualized dividend and a yield of 6.95%. The ex-dividend date of this dividend is Thursday, October 31st. Whitecap Resources’s dividend payout ratio (DPR) is 58.40%.

Analyst Ratings Changes

Several brokerages have recently weighed in on WCP. ATB Capital cut their price objective on shares of Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Raymond James raised shares of Whitecap Resources to a “hold” rating in a research note on Thursday, October 17th. Canaccord Genuity Group lowered their price objective on shares of Whitecap Resources from C$14.50 to C$14.00 in a research note on Tuesday, October 22nd. Desjardins upped their price objective on Whitecap Resources from C$12.75 to C$13.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada upgraded Whitecap Resources to a “moderate buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$13.61.

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.