Whitecap Resources (TSE:WCP) Reaches New 1-Year Low on Analyst Downgrade

Shares of Whitecap Resources Inc. (TSE:WCP - Get Free Report) reached a new 52-week low during trading on Thursday after CIBC lowered their price target on the stock from C$14.50 to C$13.00. The stock traded as low as C$6.87 and last traded at C$8.05, with a volume of 12587048 shares changing hands. The stock had previously closed at C$7.19.

WCP has been the subject of a number of other research reports. National Bankshares decreased their target price on Whitecap Resources from C$15.00 to C$14.50 and set an "outperform" rating for the company in a report on Thursday, January 30th. Raymond James raised shares of Whitecap Resources from a "market perform" rating to an "outperform" rating and set a C$13.00 target price on the stock in a research note on Tuesday, March 11th. Finally, Desjardins set a C$12.00 price objective on shares of Whitecap Resources and gave the stock a "buy" rating in a report on Wednesday, March 19th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of C$13.34.

Insider Activity

In other news, Director Grant Bradley Fagerheim purchased 10,000 shares of the stock in a transaction dated Wednesday, April 9th. The shares were purchased at an average cost of C$7.17 per share, with a total value of C$71,700.00. Also, Senior Officer Thanh Chan Kang purchased 9,720 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of C$8.43 per share, for a total transaction of C$81,939.60. Insiders have bought a total of 98,120 shares of company stock worth $835,336 over the last 90 days. 0.84% of the stock is currently owned by insiders.

Whitecap Resources Price Performance

The firm has a 50-day simple moving average of C$9.07 and a 200-day simple moving average of C$9.83. The firm has a market capitalization of C$4.59 billion, a PE ratio of 5.30, a PEG ratio of -0.33 and a beta of 2.67. The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67.

Whitecap Resources Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 17th were given a dividend of $0.0608 per share. The ex-dividend date was Friday, February 28th. This represents a $0.73 annualized dividend and a yield of 9.28%. Whitecap Resources's dividend payout ratio (DPR) is 49.25%.

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.