Whitecap Resources (TSE:WCP) Sets New 52-Week High Following Dividend Announcement

Whitecap Resources Inc. (TSE:WCP) shares 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 traded. The stock had previously closed at C$13.62.

The newly announced dividend which will be paid on Monday, March 16th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.0608 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, February 27th. Whitecap Resources’s payout ratio is 73.70%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Royal Bank Of Canada increased their price target on shares of Whitecap Resources from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. National Bank Financial raised their target price on Whitecap Resources from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Desjardins boosted their target price on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. ATB Cormark Capital Markets lifted their price objective on Whitecap Resources from C$13.00 to C$15.00 and gave the company a “moderate buy” rating in a research report on Tuesday, February 24th. Finally, Scotiabank upped their price target on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Two equities research 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’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$15.15.

Whitecap Resources Price Performance

The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88. The company has a 50-day moving average of C$12.23 and a 200-day moving average of C$11.31. The firm has a market capitalization of C$16.75 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of -0.33 and a beta of 0.69.

Whitecap Resources Company Profile

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.