Whitecap Resources (TSE:WCP) Shares Down 14.1% – Here’s Why

Whitecap Resources Inc. (TSE:WCP)’s stock price was down 14.1% during mid-day trading on Monday . The stock traded as low as C$7.97 and last traded at C$8.03. Approximately 4,323,412 shares were traded during mid-day trading, an increase of 89% from the average daily volume of 2,285,911 shares. The stock had previously closed at C$9.35.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WCP. National Bankshares cut their price target on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating for the company in a report on Thursday, January 30th. Desjardins dropped their target price on shares of Whitecap Resources from C$13.00 to C$12.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Raymond James upgraded Whitecap Resources from a “market perform” rating to an “outperform” rating and set a C$13.00 price objective for the company in a research report on Tuesday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$13.52.

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 business has a 50 day simple moving average of C$9.85 and a 200-day simple moving average of C$10.11. The firm has a market cap of C$4.85 billion, a price-to-earnings ratio of 5.60, a P/E/G ratio of -0.33 and a beta of 2.67.

Whitecap Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 17th will be issued a dividend of $0.0608 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.73 dividend on an annualized basis and a yield of 8.79%. Whitecap Resources’s dividend payout ratio (DPR) is presently 49.25%.

Whitecap Resources Company Profile

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.