Thanh Chan Kang Purchases 10,000 Shares of Whitecap Resources Inc. (TSE:WCP) Stock

Whitecap Resources Inc. (TSE:WCP) Senior Officer Thanh Chan Kang bought 10,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of C$10.48 per share, for a total transaction of C$104,800.00.

Whitecap Resources Stock Performance

Shares of WCP stock opened at C$10.40 on Friday. The company has a debt-to-equity ratio of 23.55, a quick ratio of 0.67 and a current ratio of 0.94. The firm has a market cap of C$6.23 billion, a P/E ratio of 8.32, a P/E/G ratio of -0.33 and a beta of 2.67. The firm’s 50 day moving average price is C$10.38 and its 200-day moving average price is C$10.29. Whitecap Resources Inc. has a one year low of C$8.15 and a one year high of C$11.31.

Whitecap Resources Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be paid a $0.0608 dividend. This represents a $0.73 annualized dividend and a dividend yield of 7.02%. The ex-dividend date of this dividend is Thursday, October 31st. Whitecap Resources’s payout ratio is 58.40%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WCP. ATB Capital cut their price target on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating for the company in a report on Thursday, October 24th. Desjardins raised their target price on Whitecap Resources from C$12.75 to C$13.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group cut their price objective on shares of Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Raymond James upgraded shares of Whitecap Resources to a “hold” rating in a report on Thursday, October 17th. Finally, Canaccord Genuity Group cut their price target on shares of Whitecap Resources from C$14.50 to C$14.00 in a report on Tuesday, October 22nd. 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.