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

Whitecap Resources Inc. (TSE:WCP) declared a monthly dividend on Monday, September 16th, Zacks reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.061 per share on Tuesday, October 15th. This represents a $0.73 annualized dividend and a dividend yield of 7.12%. The ex-dividend date is Monday, September 30th.

Whitecap Resources Price Performance

Whitecap Resources stock opened at C$10.28 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 23.55. The company has a 50-day moving average price of C$10.16 and a 200 day moving average price of C$10.18. Whitecap Resources has a 12-month low of C$8.15 and a 12-month high of C$11.84. The stock has a market cap of C$6.16 billion, a P/E ratio of 8.26, a PEG ratio of -0.33 and a beta of 2.69.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings results on Wednesday, July 24th. The company reported C$0.41 earnings per share (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 net margin of 22.43% and a return on equity of 13.89%. Sell-side analysts anticipate that Whitecap Resources will post 1.001005 earnings per share for the current year.

Insiders Place Their Bets

In other Whitecap Resources news, Director Chandra Henry acquired 10,000 shares of the stock in a transaction dated Wednesday, July 10th. The stock was acquired at an average price of C$10.00 per share, with a total value of C$100,000.00. In related news, Director Grant Bradley Fagerheim sold 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of C$10.22, for a total transaction of C$204,400.00. Also, Director Chandra Henry purchased 10,000 shares of Whitecap Resources stock in a transaction on Wednesday, July 10th. The stock was bought at an average cost of C$10.00 per share, for a total transaction of C$100,000.00. Insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WCP. Royal Bank of Canada raised Whitecap Resources to a “moderate buy” rating in a research note on Friday, July 26th. Jefferies Financial Group cut their price objective on Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating for the company in a research report on Monday. Finally, Scotiabank boosted their price objective on shares of Whitecap Resources from C$12.00 to C$13.00 in a report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$13.61.

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.