Whitecap Resources Inc. to Issue Monthly Dividend of $0.06 (TSE:WCP)

Key Points

• Whitecap Resources declared a monthly dividend of C$0.0608 per share, implying an annualized yield of approximately 4.7%. Shareholders of record on August 17 are scheduled to receive the payment that day.
• Whitecap shares opened at C$15.60, compared with a 12-month range of C$9.79 to C$17.34. The company reported quarterly revenue of C$1.84 billion and earnings of C$0.02 per share.
• Analyst sentiment is positive: the stock has an average “Buy” rating and a consensus price target of C$18.55, with recent targets ranging from C$18.00 to C$22.00.

Whitecap Resources Inc. (TSE:WCP - Get Free Report) declared a monthly dividend on Friday, July 31st, TickerTech Dividends reports. Shareholders of record on Monday, August 17th will be given a dividend of 0.0608 per share on Monday, August 17th. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, July 31st.

Whitecap Resources Price Performance

Shares of TSE:WCP opened at C$15.60 on Wednesday. Whitecap Resources has a 12 month low of C$9.79 and a 12 month high of C$17.34. 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 business's 50 day simple moving average is C$15.85 and its 200-day simple moving average is C$14.64. The firm has a market capitalization of C$18.96 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of -0.33 and a beta of 0.18.

Whitecap Resources (TSE:WCP - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported C$0.02 earnings per share for the quarter. Whitecap Resources had a net margin of 13.32% and a return on equity of 7.70%. The firm had revenue of C$1.84 billion during the quarter. As a group, equities analysts forecast that Whitecap Resources will post 1.1226131 earnings per share for the current fiscal year.

Analyst Ratings Changes

WCP has been the topic of several analyst reports. TD lifted their price target on shares of 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 target price on Whitecap Resources from C$17.50 to C$18.50 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Raymond James Financial increased their price target on Whitecap Resources from C$18.00 to C$20.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. 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. Finally, Desjardins set a C$22.00 price target on shares of Whitecap Resources and gave the company a "buy" rating in a research note on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to MarketBeat, Whitecap Resources currently has an average rating of "Buy" and a consensus target price of C$18.55.

About Whitecap Resources

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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