Insider Buying: Whitecap Resources (TSE:WCP) Director Acquires C$159,000.00 in Stock

Whitecap Resources Inc. (TSE:WCP) Director Grant Bradley Fagerheim acquired 15,000 shares of the firm’s stock in a transaction dated Friday, October 10th. The stock was bought at an average price of C$10.60 per share, for a total transaction of C$159,000.00. Following the completion of the acquisition, the director owned 3,220,745 shares in the company, valued at approximately C$34,139,897. The trade was a 0.47% increase in their position.

Grant Bradley Fagerheim also recently made the following trade(s):

• On Wednesday, September 3rd, Grant Bradley Fagerheim acquired 5,000 shares of Whitecap Resources stock. The stock was bought at an average price of C$10.32 per share, for a total transaction of C$51,600.00.
• On Wednesday, July 30th, Grant Bradley Fagerheim acquired 5,000 shares of Whitecap Resources stock. The stock was bought at an average price of C$10.71 per share, for a total transaction of C$53,550.00.

Whitecap Resources Stock Performance

Shares of WCP stock opened at C$10.51 on Monday. The firm has a market cap of C$12.95 billion, a P/E ratio of 7.20, a P/E/G ratio of -0.33 and a beta of 0.66. Whitecap Resources Inc. has a one year low of C$6.87 and a one year high of C$11.30. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88. The firm’s 50 day moving average price is C$10.47 and its 200-day moving average price is C$9.42.

Whitecap Resources Announces Dividend

The firm also recently announced a sep 25 dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.0608 per share. Whitecap Resources’s dividend payout ratio (DPR) is presently 49.97%.

Analyst Ratings Changes

A number of research firms have issued reports on WCP. Desjardins upgraded shares of Whitecap Resources from a “hold” rating to a “buy” rating and increased their target price for the stock from C$12.00 to C$12.50 in a report on Tuesday, August 26th. Scotiabank increased their target price on shares of Whitecap Resources from C$12.00 to C$14.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Raymond James Financial increased their target price on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$13.86.

About Whitecap Resources

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap’s Canadian assets.