Key Points
- Insider buying: Joseph Adam Wong bought 7,500 shares of Whitecap Resources at C$14.46 each, a C$108,450 transaction that lifted his holdings by 7.22% to 111,416 shares.
- Dividend update: Whitecap announced a monthly dividend of C$0.0608 per share, payable August 17, implying a 4.9% annualized yield. The payout ratio is currently very high at 99.95%.
- Analyst sentiment: Several analysts raised price targets, and the stock now carries a consensus Buy rating with an average target of C$17.00, above the recent opening price of C$14.87.
Whitecap Resources Inc. (TSE:WCP - Get Free Report) insider Joseph Adam Wong acquired 7,500 shares of the business's stock in a transaction on Monday, July 6th. The stock was purchased at an average price of C$14.46 per share, for a total transaction of C$108,450.00. Following the acquisition, the insider directly owned 111,416 shares in the company, valued at C$1,611,075.36. This represents a 7.22% increase in their ownership of the stock.
Whitecap Resources Stock Up 3.0%
Shares of Whitecap Resources stock opened at C$14.87 on Wednesday. The business has a 50-day moving average of C$15.93 and a 200-day moving average of C$14.17. The company has a debt-to-equity ratio of 33.01, a current ratio of 0.54 and a quick ratio of 0.67. The company has a market capitalization of C$18.07 billion, a PE ratio of 20.37, a P/E/G ratio of -0.33 and a beta of 0.18. Whitecap Resources Inc. has a 1-year low of C$9.25 and a 1-year high of C$17.34.
Whitecap Resources (TSE:WCP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported C$0.02 EPS for the quarter. Whitecap Resources had a return on equity of 7.70% and a net margin of 13.32%.The firm had revenue of C$1.84 billion during the quarter. As a group, equities analysts forecast that Whitecap Resources Inc. will post 1.1226131 EPS for the current fiscal year.
Whitecap Resources Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be issued a $0.0608 dividend. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Friday, July 31st. Whitecap Resources's payout ratio is currently 99.95%.
Analysts Set New Price Targets
WCP has been the topic of a number of research analyst reports. Raymond James Financial increased their target price on Whitecap Resources from C$18.00 to C$20.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Royal Bank Of Canada upped their price target on Whitecap Resources from C$18.00 to C$20.00 and gave the company an "outperform" rating in a research report on Tuesday, May 26th. TD raised their price objective on Whitecap Resources from C$17.00 to C$18.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. ATB Cormark Capital Markets lifted their price objective on shares of Whitecap Resources from C$17.50 to C$18.50 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Finally, Scotia boosted their target price on shares of Whitecap Resources from C$17.00 to C$19.00 and gave the company a "sector outperform" rating in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Whitecap Resources currently has an average rating of "Buy" and a consensus price target of C$17.00.
Read Our Latest Analysis on WCP
Whitecap Resources Company Profile
(
Get Free Report)
Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.
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