Insider Buying: Whitecap Resources Inc. (WCP) Director Acquires C$90,882.00 in Stock
Whitecap Resources Inc. (TSE:WCP) Director Grant Bradley Fagerheim acquired 10,200 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was purchased at an average price of C$8.91 per share, for a total transaction of C$90,882.00.
Shares of Whitecap Resources Inc. (WCP) opened at C$8.64 on Friday. Whitecap Resources Inc. has a 52-week low of C$8.41 and a 52-week high of C$12.90.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.023 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Wednesday, November 29th. Whitecap Resources’s payout ratio is 34.95%.
A number of research analysts have weighed in on the company. TD Securities raised their price objective on Whitecap Resources from C$12.00 to C$13.00 and gave the company a “buy” rating in a report on Tuesday. BMO Capital Markets raised their target price on Whitecap Resources from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a research note on Tuesday. CIBC reaffirmed an “outperform” rating and issued a C$12.50 target price on shares of Whitecap Resources in a research note on Tuesday. Raymond James Financial raised their target price on Whitecap Resources from C$13.25 to C$14.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 14th. Finally, Barclays raised their target price on Whitecap Resources from C$10.00 to C$11.00 in a research note on Thursday, November 2nd. Seven equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of C$13.10.
About Whitecap Resources
Whitecap Resources Inc is a Canada-based oil-weighted growth company focused on its existing assets enhanced by oil-based acquisitions. Its assets include Boundary Lake property, which is located in northeast British Columbia; Valhalla North property, which is located in the Peace River Arch area of Alberta and is characterized by shallow declines and a production base, and Deep Basin properties, which include Karr, Simonette, Kakwa, Elmworth and Wapiti, which are located southwest of Grande Prairie, Alberta.
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