Whitecap Resources Inc. (TSE:WCP) Declares Dividend Increase - $0.06 Per Share

Whitecap Resources Inc. (TSE:WCP - Get Free Report) declared a monthly dividend on Wednesday, May 15th, Zacks reports. Shareholders of record on Friday, May 31st will be given a dividend of 0.061 per share on Monday, June 17th. This represents a $0.73 annualized dividend and a yield of 6.98%. The ex-dividend date is Friday, May 31st. This is an increase from Whitecap Resources's previous monthly dividend of $0.06.

Whitecap Resources Trading Up 1.2 %

Shares of TSE WCP traded up C$0.12 during midday trading on Friday, reaching C$10.48. 1,237,113 shares of the stock were exchanged, compared to its average volume of 2,364,466. The company has a market capitalization of C$6.27 billion, a P/E ratio of 9.17, a P/E/G ratio of -0.33 and a beta of 2.77. Whitecap Resources has a 52-week low of C$8.15 and a 52-week high of C$11.91. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 26.11. The stock has a 50 day moving average price of C$10.28 and a 200-day moving average price of C$9.56.

Whitecap Resources (TSE:WCP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported C$0.10 EPS for the quarter, missing analysts' consensus estimates of C$0.24 by C($0.14). Whitecap Resources had a return on equity of 12.91% and a net margin of 21.27%. The firm had revenue of C$933.30 million for the quarter, compared to analysts' expectations of C$787.00 million. Equities research analysts expect that Whitecap Resources will post 1.0898396 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WCP shares. Canaccord Genuity Group raised their target price on shares of Whitecap Resources from C$14.00 to C$14.50 and gave the stock a "buy" rating in a research report on Thursday, April 25th. Jefferies Financial Group set a C$11.00 price target on shares of Whitecap Resources and gave the company a "buy" rating in a research report on Tuesday, February 27th. Royal Bank of Canada boosted their target price on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock an "outperform" rating in a research report on Thursday, April 25th. Desjardins lifted their price target on shares of Whitecap Resources from C$11.00 to C$11.50 and gave the stock a "buy" rating in a research note on Friday, February 23rd. Finally, CIBC boosted their target price on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company an "outperform" rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Whitecap Resources currently has a consensus rating of "Buy" and a consensus price target of C$13.56.

Insider Activity at Whitecap Resources

In other news, Director Grant Bradley Fagerheim acquired 10,000 shares of the stock in a transaction dated Monday, April 29th. The shares were bought at an average cost of C$10.69 per share, for a total transaction of C$106,900.00. In other Whitecap Resources news, Senior Officer Thanh Chan Kang acquired 2,970 shares of the business's stock in a transaction on Monday, April 29th. The stock was purchased at an average price of C$10.60 per share, with a total value of C$31,482.00. Also, Director Grant Bradley Fagerheim acquired 10,000 shares of the business's stock in a transaction on Monday, April 29th. The stock was acquired at an average cost of C$10.69 per share, with a total value of C$106,900.00. In the last ninety days, insiders have purchased 27,970 shares of company stock valued at $292,082. 0.82% of the stock is owned by corporate insiders.

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.