Whitecap Resources (TSE:WCP) Hits New 1-Year Low at $3.80

Whitecap Resources Inc (TSE:WCP)’s share price hit a new 52-week low on Wednesday . The stock traded as low as C$3.80 and last traded at C$3.83, with a volume of 1164658 shares. The stock had previously closed at C$3.94.

Several brokerages recently weighed in on WCP. BMO Capital Markets dropped their target price on shares of Whitecap Resources from C$7.50 to C$7.00 in a report on Friday, June 14th. Raymond James reaffirmed a “strong-buy” rating and issued a C$6.50 target price on shares of Whitecap Resources in a report on Friday, August 2nd. CIBC dropped their target price on shares of Whitecap Resources from C$9.00 to C$7.50 in a report on Thursday, July 18th. National Bank Financial dropped their target price on shares of Whitecap Resources from C$9.50 to C$7.50 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Finally, Canaccord Genuity dropped their target price on shares of Whitecap Resources from C$8.00 to C$7.50 in a report on Tuesday, July 9th.

The company’s fifty day moving average price is C$4.21. The company has a market capitalization of $1.63 billion and a price-to-earnings ratio of 24.68. The company has a debt-to-equity ratio of 39.79, a quick ratio of 0.81 and a current ratio of 0.84.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.0285 per share. This represents a $0.34 annualized dividend and a dividend yield of 9.00%. The ex-dividend date of this dividend is Tuesday, July 30th. This is an increase from Whitecap Resources’s previous monthly dividend of $0.03. Whitecap Resources’s dividend payout ratio is 212.34%.

In related news, Senior Officer David Michael Mombourquette acquired 11,900 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average price of C$4.20 per share, with a total value of C$49,980.00. Following the acquisition, the insider now directly owns 291,900 shares of the company’s stock, valued at C$1,225,980. Also, Senior Officer Thanh Chan Kang acquired 50,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were bought at an average cost of C$4.00 per share, with a total value of C$200,000.00. Following the acquisition, the insider now directly owns 555,728 shares in the company, valued at C$2,222,912. Insiders have acquired a total of 68,975 shares of company stock valued at $280,443 in the last three months.

Whitecap Resources Company Profile (TSE:WCP)

Whitecap Resources Inc acquires and develops petroleum and natural gas properties in Canada. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southeast Saskatchewan. Whitecap Resources Inc is headquartered in Calgary, Canada.

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