Whitecap Resources Inc. (TSE:WCP) Raises Dividend to $0.06 Per Share

Whitecap Resources Inc. (TSE:WCP) declared a monthly dividend on Wednesday, May 15th, Zacks reports. Investors of record on Friday, May 31st will be paid a dividend of 0.061 per share on Monday, June 17th. This represents a $0.73 annualized dividend and a yield of 7.07%. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Whitecap Resources’s previous monthly dividend of $0.06.

Whitecap Resources Stock Performance

Shares of WCP stock opened at C$10.36 on Friday. The firm has a fifty day moving average of C$10.28 and a 200-day moving average of C$9.56. The stock has a market cap of C$6.20 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of -0.33 and a beta of 2.77. Whitecap Resources has a 52-week low of C$8.15 and a 52-week high of C$11.91. The company has a debt-to-equity ratio of 26.11, a quick ratio of 0.67 and a current ratio of 0.71.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings results on Wednesday, April 24th. The company reported C$0.10 EPS for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.14). Whitecap Resources had a return on equity of 12.91% and a net margin of 21.27%. The business had revenue of C$933.30 million for the quarter, compared to the consensus estimate of C$787.00 million. On average, equities research analysts forecast that Whitecap Resources will post 1.0898396 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Thanh Chan Kang purchased 2,970 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average price of C$10.60 per share, for a total transaction of C$31,482.00. In other Whitecap Resources news, Director Grant Bradley Fagerheim bought 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was bought at an average price of C$10.58 per share, for a total transaction of C$52,900.00. Also, Senior Officer Thanh Chan Kang purchased 2,970 shares of Whitecap Resources stock in a transaction dated Monday, April 29th. The stock was bought at an average price of C$10.60 per share, for a total transaction of C$31,482.00. In the last quarter, insiders have bought 27,970 shares of company stock valued at $292,082. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on WCP. Royal Bank of Canada increased their price objective on Whitecap Resources from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Jefferies Financial Group set a C$11.00 price target on shares of Whitecap Resources and gave the company a “buy” rating in a report on Tuesday, February 27th. ATB Capital reduced their price target on shares of Whitecap Resources from C$15.50 to C$15.00 in a research report on Thursday, February 22nd. Desjardins raised their price objective on shares of Whitecap Resources from C$11.00 to C$11.50 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, BMO Capital Markets lifted their target price on shares of Whitecap Resources from C$13.00 to C$14.00 in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Whitecap Resources has a consensus rating of “Buy” and an average price target of C$13.56.

About Whitecap Resources

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.