Insider Buying: Whitecap Resources Inc. (TSE:WCP) Director Purchases C$52,200.00 in Stock

Whitecap Resources Inc. (TSE:WCP) Director Mary-Jo Case bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was purchased at an average cost of C$10.44 per share, for a total transaction of C$52,200.00.

Whitecap Resources Trading Up 0.5 %

Whitecap Resources stock opened at C$10.50 on Thursday. The stock has a 50-day simple moving average of C$10.37 and a 200 day simple moving average of C$10.28. The stock has a market capitalization of C$6.29 billion, a P/E ratio of 8.40, a PEG ratio of -0.33 and a beta of 2.67. The company has a debt-to-equity ratio of 23.55, a quick ratio of 0.67 and a current ratio of 0.94. Whitecap Resources Inc. has a 52 week low of C$8.15 and a 52 week high of C$11.31.

Whitecap Resources Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be issued a dividend of $0.0608 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date is Thursday, October 31st. Whitecap Resources’s payout ratio is presently 58.40%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WCP shares. Desjardins raised their price target on shares of 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. Raymond James upgraded shares of Whitecap Resources to a “hold” rating in a research note on Thursday, October 17th. ATB Capital reduced their price objective on shares of Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Scotiabank raised their price objective on Whitecap Resources from C$12.00 to C$13.00 in a report on Friday, July 12th. 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 stock. According to data from MarketBeat, Whitecap Resources has an average rating of “Moderate Buy” and an average target price of C$13.61.

Whitecap Resources Company Profile

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.