Whitecap Resources (WCP) Given “Outperform” Rating at Needham & Company LLC

Needham & Company LLC reiterated their outperform rating on shares of Whitecap Resources (TSE:WCP) in a research note issued to investors on Friday morning. They currently have a C$13.00 target price on the stock.

Several other brokerages have also commented on WCP. CIBC reissued an outperform rating and issued a C$12.50 price target on shares of Whitecap Resources in a report on Tuesday, December 5th. TD Securities boosted their price target on shares of Whitecap Resources from C$12.00 to C$13.00 and gave the stock a buy rating in a report on Tuesday, December 5th. National Bank Financial boosted their price target on shares of Whitecap Resources from C$11.50 to C$12.00 and gave the stock an outperform rating in a report on Thursday, November 2nd. Barclays boosted their price target on shares of Whitecap Resources from C$10.00 to C$11.00 in a report on Thursday, November 2nd. Finally, BMO Capital Markets boosted their price target on shares of Whitecap Resources from C$12.50 to C$13.00 and gave the stock an outperform rating in a report on Tuesday, December 5th. Eight investment analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average target price of C$13.09.

Whitecap Resources (TSE:WCP) opened at C$8.36 on Friday. Whitecap Resources has a 1-year low of C$8.31 and a 1-year high of C$12.76.

The firm also recently announced a monthly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were issued a dividend of $0.023 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Wednesday, November 29th. Whitecap Resources’s payout ratio is 34.95%.

In other Whitecap Resources news, Director Grant Bradley Fagerheim bought 10,200 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was acquired at an average price of C$8.91 per share, with a total value of C$90,882.00.

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Whitecap Resources Company Profile

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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