CIBC Reaffirms “Outperform” Rating for Whitecap Resources (WCP)

CIBC reiterated their outperform rating on shares of Whitecap Resources (TSE:WCP) in a research note published on Tuesday. The brokerage currently has a C$12.50 price target on the stock.

WCP has been the topic of several other reports. Raymond James Financial increased their price objective on shares of Whitecap Resources from C$13.25 to C$14.00 and gave the company an outperform rating in a research report on Tuesday, November 14th. National Bank Financial cut their price objective on shares of Whitecap Resources from C$12.00 to C$11.50 and set an outperform rating on the stock in a research report on Friday, October 13th. Finally, Barclays increased their price objective on shares of Whitecap Resources from C$10.00 to C$11.00 in a research report on Thursday, November 2nd. Seven investment analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and an average target price of C$13.10.

Shares of Whitecap Resources (WCP) opened at C$8.64 on Tuesday. Whitecap Resources has a 1 year low of C$8.42 and a 1 year high of C$12.90.

The business also recently announced a monthly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.023 per share. This represents a $0.28 annualized dividend and a yield of 3.19%. The ex-dividend date is Wednesday, November 29th. Whitecap Resources’s dividend payout ratio is currently 34.95%.

In related news, Director Grant Bradley Fagerheim bought 10,200 shares of the stock in a transaction on Monday, December 4th. The shares were acquired at an average price of C$8.91 per share, for a total transaction 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.

Analyst Recommendations for Whitecap Resources (TSE:WCP)

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