Insider Buying: Whitecap Resources Inc. (TSE:WCP) Senior Officer Buys 10,000 Shares of Stock

Whitecap Resources Inc. (TSE:WCP) Senior Officer Thanh Chan Kang purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was bought 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. Whitecap Resources Inc. has a fifty-two week low of C$8.15 and a fifty-two week high of C$11.31. The stock’s 50-day moving average is C$10.38 and its two-hundred day moving average is C$10.29. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67. The firm has a market cap of C$6.23 billion, a P/E ratio of 8.32, a PEG ratio of -0.33 and a beta of 2.67.

Whitecap Resources Cuts Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on WCP shares. Royal Bank of Canada raised shares of Whitecap Resources to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group lowered their price objective on shares of Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. ATB Capital decreased their target price on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating for the company in a research report on Thursday, October 24th. National Bankshares lowered their price target on Whitecap Resources from C$15.50 to C$14.50 in a report on Friday, September 27th. Finally, Raymond James raised Whitecap Resources to a “hold” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.