Whitecap Resources (WCP) Sets New 1-Year Low at $6.05

Whitecap Resources Inc. (TSE:WCP) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as C$6.05 and last traded at C$6.06, with a volume of 972109 shares changing hands. The stock had previously closed at C$6.26.

A number of research analysts have issued reports on the company. CIBC lifted their price objective on Whitecap Resources from C$12.50 to C$12.75 in a report on Friday, July 20th. Raymond James reissued a “strong-buy” rating and set a C$13.25 price objective on shares of Whitecap Resources in a report on Friday, November 2nd. TD Securities cut their price objective on Whitecap Resources from C$14.00 to C$11.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Cormark cut their price objective on Whitecap Resources from C$13.75 to C$13.50 in a report on Tuesday, October 9th. Finally, Canaccord Genuity cut their price objective on Whitecap Resources from C$13.00 to C$12.00 in a report on Tuesday, October 16th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Whitecap Resources presently has an average rating of “Buy” and a consensus price target of C$13.10.

The company has a debt-to-equity ratio of 39.39, a current ratio of 0.51 and a quick ratio of 0.51.

The firm also recently declared a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 15th will be issued a $0.027 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.47%. Whitecap Resources’s dividend payout ratio is -50.93%.

In other Whitecap Resources news, insider David Michael Mombourquette purchased 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 16th. The stock was acquired at an average cost of C$7.01 per share, with a total value of C$105,150.00. Also, Director Grant Bradley Fagerheim purchased 9,947 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was acquired at an average cost of C$6.39 per share, with a total value of C$63,561.33. Insiders purchased 60,737 shares of company stock valued at $441,848 over the last ninety days.

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Whitecap Resources Company Profile (TSE:WCP)

Whitecap Resources Inc acquires and develops petroleum and natural gas properties in the Western Canada Sedimentary Basin. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southeast Saskatchewan.

Further Reading: Why do earnings reports matter?

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