Whitecap Resources (TSE:WCP) Sets New 1-Year High Following Dividend Announcement

Whitecap Resources Inc. (TSE:WCP)’s share price hit a new 52-week high on Monday following a dividend announcement from the company. The company traded as high as C$14.19 and last traded at C$13.80, with a volume of 3379501 shares trading hands. The stock had previously closed at C$13.62.

The newly announced dividend which will be paid on Monday, March 16th. Investors of record on Monday, March 16th will be issued a $0.0608 dividend. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Friday, February 27th. Whitecap Resources’s dividend payout ratio is 73.70%.

Analyst Ratings Changes

A number of analysts have weighed in on WCP shares. Scotiabank raised their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the company a “hold” rating in a research note on Tuesday, January 20th. Desjardins increased their price objective on Whitecap Resources from C$14.00 to C$15.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. TD Securities raised their target price on Whitecap Resources from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Canaccord Genuity Group upped their price target on Whitecap Resources from C$14.00 to C$15.50 and gave the company a “buy” rating in a report on Tuesday, February 24th. Finally, National Bank Financial increased their price target on shares of Whitecap Resources from C$15.00 to C$16.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$15.15.

Whitecap Resources Stock Down 0.9%

The business’s fifty day moving average price is C$12.32 and its 200 day moving average price is C$11.36. The firm has a market capitalization of C$16.48 billion, a price-to-earnings ratio of 13.72, a PEG ratio of -0.33 and a beta of 0.69. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 40.03.

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.