Whitecap Resources (TSE:WCP) Trading 3.5% Higher Following Dividend Announcement

Whitecap Resources Inc. (TSE:WCP - Get Free Report) shares rose 3.5% on Wednesday after the company announced a dividend. The stock traded as high as C$8.06 and last traded at C$8.05. Approximately 1,105,032 shares changed hands during trading, a decline of 74% from the average daily volume of 4,230,241 shares. The stock had previously closed at C$7.78.

The newly announced dividend which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be paid a $0.0608 dividend. Whitecap Resources's dividend payout ratio (DPR) is presently 49.25%.

Wall Street Analyst Weigh In

WCP has been the topic of a number of research analyst reports. Raymond James raised Whitecap Resources from a "market perform" rating to an "outperform" rating and set a C$13.00 target price on the stock in a report on Tuesday, March 11th. National Bankshares decreased their price target on Whitecap Resources from C$15.00 to C$14.50 and set an "outperform" rating on the stock in a research report on Thursday, January 30th. Desjardins lowered their price target on shares of Whitecap Resources from C$12.00 to C$11.50 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, CIBC decreased their target price on Whitecap Resources from C$14.50 to C$13.00 in a research report on Thursday, April 10th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of C$13.30.

Whitecap Resources Stock Down 2.3 %

The stock's fifty day moving average price is C$8.93 and its 200 day moving average price is C$9.76. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. The stock has a market cap of C$4.67 billion, a P/E ratio of 5.40, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67.

Insider Activity at Whitecap Resources

In related news, Senior Officer Thanh Chan Kang acquired 10,000 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was acquired at an average cost of C$8.73 per share, with a total value of C$87,300.00. Also, Director Grant Bradley Fagerheim bought 30,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of C$8.42 per share, for a total transaction of C$252,600.00. Insiders have acquired a total of 98,120 shares of company stock worth $835,336 in the last 90 days. Company insiders own 0.84% of the company's stock.

Whitecap Resources Company Profile

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap's Canadian assets.