Whitecap Resources (WCP) Hits New 1-Year High at $10.36

Whitecap Resources Inc. (TSE:WCP) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$10.36 and last traded at C$10.24, with a volume of 2114346 shares. The stock had previously closed at C$9.89.

A number of equities research analysts have recently issued reports on the stock. Scotiabank reaffirmed an “outperform” rating and set a C$13.50 target price on shares of Whitecap Resources in a report on Thursday, May 17th. Raymond James upped their target price on shares of Whitecap Resources from C$12.50 to C$13.00 in a report on Tuesday, April 24th. National Bank Financial upped their target price on shares of Whitecap Resources from C$11.50 to C$14.50 and gave the stock an “outperform” rating in a report on Thursday, May 10th. Laurentian upped their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 in a report on Thursday, May 3rd. Finally, GMP Securities dropped their price objective on shares of Whitecap Resources from C$13.75 to C$13.25 in a report on Thursday, March 1st. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Whitecap Resources has a consensus rating of “Buy” and an average price target of C$13.09.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings data on Wednesday, February 28th. The company reported C$0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.07 by C$0.02. Whitecap Resources had a net margin of 1.91% and a return on equity of 0.46%. The firm had revenue of C$285.01 million during the quarter, compared to analyst estimates of C$256.40 million.

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be issued a $0.026 dividend. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $0.31 dividend on an annualized basis and a dividend yield of 3.06%. This is a positive change from Whitecap Resources’s previous monthly dividend of $0.03.

In related news, Director Heather J. Culbert bought 20,000 shares of the firm’s stock in a transaction on Wednesday, March 28th. The shares were bought at an average price of C$7.75 per share, with a total value of C$155,000.00. Also, insider Thanh Chan Kang bought 10,000 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was bought at an average cost of C$7.75 per share, for a total transaction of C$77,500.00. Insiders purchased 53,800 shares of company stock valued at $413,605 in the last three months.

Whitecap Resources Company Profile

Whitecap Resources Inc acquires and develops petroleum and natural gas properties in the Western Canada Sedimentary Basin. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southeast Saskatchewan.

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