Whitecap Resources (TSE:WCP) Shares Down 14.1% - Here's Why

Whitecap Resources Inc. (TSE:WCP - Get Free Report) dropped 14.1% on Monday . The stock traded as low as C$7.97 and last traded at C$8.03. Approximately 4,323,412 shares changed hands during trading, an increase of 89% from the average daily volume of 2,285,911 shares. The stock had previously closed at C$9.35.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. National Bankshares reduced 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. Desjardins reduced their price objective on Whitecap Resources from C$13.00 to C$12.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, 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 research note on Tuesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of C$13.52.

Whitecap Resources Price Performance

The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67. The stock has a market capitalization of C$5.00 billion, a P/E ratio of 5.78, a PEG ratio of -0.33 and a beta of 2.67. The stock's fifty day moving average is C$9.85 and its 200-day moving average is C$10.11.

Whitecap Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 17th will be issued a $0.0608 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.73 annualized dividend and a yield of 8.52%. Whitecap Resources's dividend payout ratio (DPR) is currently 49.25%.

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Insiders Place Their Bets

In other Whitecap Resources news, Director Grant Bradley Fagerheim acquired 30,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of C$8.42 per share, with a total value of C$252,600.00. Also, Senior Officer Thanh Chan Kang purchased 9,720 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of C$8.43 per share, with a total value of C$81,939.60. Company insiders own 0.84% of the company's stock.

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.