Shares of Whitecap Resources Inc. (TSE:WCP – Get Rating) have received an average recommendation of "Buy" from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. Ten analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$14.61.

WCP has been the topic of several recent analyst reports. Canaccord Genuity Group set a C$15.50 price target on Whitecap Resources and gave the company a "buy" rating in a research report on Thursday, August 25th. National Bankshares dropped their price target on shares of Whitecap Resources from C$22.00 to C$17.50 and set an "outperform" rating on the stock in a research note on Monday, July 18th. Raymond James lifted their price target on Whitecap Resources from C$16.00 to C$17.00 and gave the company a "strong-buy" rating in a report on Friday, July 29th. Royal Bank of Canada boosted their price target on Whitecap Resources from C$14.00 to C$16.00 and gave the stock an "outperform" rating in a research report on Thursday, June 30th. Finally, Scotiabank boosted their target price on Whitecap Resources from C$12.00 to C$13.00 in a report on Wednesday, June 8th.

Insiders Place Their Bets

In other Whitecap Resources news, Director Grant Bradley Fagerheim bought 5,000 shares of the stock in a transaction on Monday, July 4th. The stock was purchased at an average price of C$8.82 per share, with a total value of C$44,100.00. Following the acquisition, the director now owns 711,200 shares of the company's stock, valued at C$6,272,784. In other news, Director Grant Bradley Fagerheim bought 5,000 shares of the stock in a transaction on Monday, July 4th. The stock was purchased at an average price of C$8.82 per share, with a total value of C$44,100.00. Following the completion of the purchase, the director now owns 711,200 shares of the company's stock, valued at C$6,272,784. Also, Senior Officer Thanh Chan Kang acquired 5,450 shares of the company's stock in a transaction that occurred on Tuesday, August 16th. The shares were acquired at an average cost of C$8.80 per share, for a total transaction of C$47,960.00. Following the purchase, the insider now directly owns 596,438 shares in the company, valued at approximately C$5,248,654.40. In the last three months, insiders bought 70,450 shares of company stock valued at $627,210.

Whitecap Resources Stock Down 7.2 %

Whitecap Resources (TSE:WCP – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The company reported C$0.61 earnings per share for the quarter, topping analysts' consensus estimates of C$0.52 by C$0.09. The company had revenue of C$1.35 billion during the quarter. Equities research analysts forecast that Whitecap Resources will post 1.8999999 earnings per share for the current fiscal year.

Whitecap Resources Announces Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.0367 dividend. This represents a $0.44 annualized dividend and a yield of 5.18%. The ex-dividend date was Tuesday, August 30th. Whitecap Resources's dividend payout ratio is 6.21%.

About Whitecap Resources

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Whitecap Resources Inc, oil and gas company, acquires and develops petroleum and natural gas properties in Canada. Its principal properties are located in West Central Alberta, British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southwest Saskatchewan. As of February 14, 2022, it had a total proved plus probable reserves of 701,829 thousand barrels of oil equivalent.

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