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

Whitecap Resources Inc. (TSE:WCP) announced a monthly dividend on Thursday, August 15th, Zacks reports. Stockholders of record on Saturday, August 31st will be given a dividend of 0.061 per share on Monday, September 16th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date is Friday, August 30th. This is a boost from Whitecap Resources’s previous monthly dividend of $0.06.

Whitecap Resources Trading Down 0.3 %

WCP stock opened at C$10.43 on Friday. The company has a market cap of C$6.25 billion, a price-to-earnings ratio of 8.34, a PEG ratio of -0.33 and a beta of 2.71. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 23.55. The business has a fifty day simple moving average of C$10.13 and a 200-day simple moving average of C$9.97. Whitecap Resources has a 52 week low of C$8.15 and a 52 week high of C$11.91.

Whitecap Resources (TSE:WCP) last released its quarterly earnings data on Wednesday, July 24th. The company reported C$0.41 EPS for the quarter, topping analysts’ consensus estimates of C$0.29 by C$0.12. The business had revenue of C$1.05 billion during the quarter, compared to the consensus estimate of C$946.00 million. Whitecap Resources had a return on equity of 13.89% and a net margin of 22.43%. On average, equities research analysts expect that Whitecap Resources will post 0.9959799 EPS for the current year.

Insider Buying and Selling at Whitecap Resources

In other news, Director Chandra Henry purchased 10,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were bought at an average price of C$10.00 per share, for a total transaction of C$100,000.00. In other news, Director Chandra Henry purchased 10,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were bought at an average price of C$10.00 per share, for a total transaction of C$100,000.00. Also, Director Grant Bradley Fagerheim sold 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$10.22, for a total transaction of C$204,400.00. Over the last 90 days, insiders have bought 30,000 shares of company stock worth $303,400. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WCP shares. Canaccord Genuity Group upped their price target on shares of Whitecap Resources from C$14.00 to C$14.50 and gave the stock a “buy” rating in a research report on Thursday, April 25th. CIBC upped their price target on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Scotiabank upped their price objective on shares of Whitecap Resources from C$12.00 to C$13.00 in a research report on Friday, July 12th. Royal Bank of Canada raised shares of Whitecap Resources to a “moderate buy” rating in a research report on Friday, July 26th. Finally, Stifel Nicolaus upped their price objective on shares of Whitecap Resources from C$12.75 to C$13.75 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$13.61.

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.