Whitecap Resources Inc. (TSE:WCP) to Issue $0.06 Monthly Dividend

Whitecap Resources Inc. (TSE:WCP) declared a monthly dividend on Monday, April 15th, TickerTech reports. Stockholders of record on Tuesday, April 30th will be given a dividend of 0.0608 per share on Wednesday, May 15th. This represents a $0.73 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend is Monday, April 29th.

Whitecap Resources Trading Down 1.1 %

TSE:WCP traded down C$0.12 during mid-day trading on Wednesday, reaching C$10.37. 930,867 shares of the company’s stock traded hands, compared to its average volume of 2,437,308. Whitecap Resources has a 12-month low of C$8.15 and a 12-month high of C$11.91. The firm has a market capitalization of C$6.20 billion, a price-to-earnings ratio of 7.18, a PEG ratio of -0.33 and a beta of 2.81. The company has a debt-to-equity ratio of 25.25, a current ratio of 0.90 and a quick ratio of 0.67. The company has a 50 day moving average price of C$9.72 and a 200-day moving average price of C$9.64.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings results on Wednesday, February 21st. The company reported C$0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.30 by C$0.19. Whitecap Resources had a return on equity of 16.89% and a net margin of 27.52%. The company had revenue of C$914.10 million for the quarter. On average, sell-side analysts predict that Whitecap Resources will post 1.2846626 earnings per share for the current year.

Insider Activity

In other news, Director Grant Bradley Fagerheim purchased 5,000 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were purchased at an average cost of C$10.58 per share, with a total value of C$52,900.00. Insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WCP. BMO Capital Markets set a C$13.00 price target on Whitecap Resources and gave the company an “outperform” rating in a report on Thursday, March 21st. Desjardins upped their target price on Whitecap Resources from C$11.00 to C$11.50 and gave the stock a “buy” rating in a report on Friday, February 23rd. National Bankshares dropped their price target on Whitecap Resources from C$18.50 to C$15.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. Jefferies Financial Group set a C$11.00 price target on Whitecap Resources and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, CIBC dropped their price target on Whitecap Resources from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$13.35.

Whitecap Resources Company Profile

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.