Insider Buying: Whitecap Resources Inc. (TSE:WCP) Director Acquires 30,000 Shares of Stock

Whitecap Resources Inc. (TSE:WCP) Director Grant Bradley Fagerheim purchased 30,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of C$8.42 per share, with a total value of C$252,600.00.

Whitecap Resources Price Performance

WCP stock traded up C$0.11 during trading on Wednesday, reaching C$8.41. The company’s stock had a trading volume of 3,865,755 shares, compared to its average volume of 3,060,624. The company has a market capitalization of C$4.91 billion, a P/E ratio of 5.67, 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. The company’s fifty day moving average is C$9.85 and its 200-day moving average is C$10.11. Whitecap Resources Inc. has a 1 year low of C$7.88 and a 1 year 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. Shareholders of record on Monday, March 17th will be paid a $0.0608 dividend. This represents a $0.73 annualized dividend and a yield of 8.68%. The ex-dividend date of this dividend is Friday, February 28th. Whitecap Resources’s payout ratio is currently 49.25%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Raymond James upgraded Whitecap Resources from a “market perform” rating to an “outperform” rating and set a C$13.00 price target on the stock in a research note on Tuesday. Desjardins dropped their price objective on shares of Whitecap Resources from C$13.00 to C$12.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, National Bankshares reduced their target price on shares of Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating for the company in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Whitecap Resources currently has an average rating of “Buy” and an average target price of C$13.52.

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.