Whitecap Resources Inc. (TSE:WCP) Announces $0.02 Monthly Dividend
Whitecap Resources Inc. (TSE:WCP) announced a monthly dividend on Friday, July 14th, Zacks reports. Shareholders of record on Monday, July 31st will be given a dividend of 0.023 per share on Tuesday, August 15th. This represents a $0.28 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, July 27th.
Whitecap Resources (TSE:WCP) traded down 3.06% during mid-day trading on Friday, reaching $8.87. 1,504,134 shares of the company’s stock were exchanged. The company has a 50-day moving average of $9.23 and a 200-day moving average of $10.13. Whitecap Resources has a 52-week low of $8.66 and a 52-week high of $12.90. The stock has a market cap of $3.27 billion and a price-to-earnings ratio of 13.99.
In related news, insider Joel Maxwell Armstrong bought 11,000 shares of the stock in a transaction that occurred on Tuesday, June 20th. The shares were acquired at an average cost of C$9.01 per share, with a total value of C$99,110.00. Also, insider Jeffery Byron Zdunich bought 5,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was bought at an average cost of C$9.12 per share, for a total transaction of C$45,600.00. Insiders bought 28,000 shares of company stock valued at $254,270 over the last 90 days.
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A number of equities analysts have weighed in on WCP shares. Raymond James Financial, Inc. reiterated an “outperform” rating and set a C$14.00 target price on shares of Whitecap Resources in a research report on Thursday, April 20th. Scotiabank restated an “outperform” rating and issued a C$15.00 price objective on shares of Whitecap Resources in a research report on Thursday, May 4th. TD Securities restated a “buy” rating and issued a C$14.00 price objective on shares of Whitecap Resources in a research report on Thursday, May 4th. National Bank Financial cut their price objective on shares of Whitecap Resources from C$13.50 to C$12.00 in a research report on Friday, June 23rd. Finally, Royal Bank Of Canada cut their price objective on shares of Whitecap Resources from C$15.00 to C$12.00 in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of C$13.92.
Whitecap Resources Company Profile
Whitecap Resources Inc is a Canada-based oil-weighted growth company focused on its existing assets enhanced by oil-based acquisitions. Its assets include Boundary Lake property, which is located in northeast British Columbia; Valhalla North property, which is located in the Peace River Arch area of Alberta and is characterized by shallow declines and a production base, and Deep Basin properties, which include Karr, Simonette, Kakwa, Elmworth and Wapiti, which are located southwest of Grande Prairie, Alberta.
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