Whitecap Resources (TSE:WCP) Sets New 12-Month Low – Should You Sell?

Whitecap Resources Inc. (TSE:WCP)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as C$7.79 and last traded at C$7.81, with a volume of 2887512 shares traded. The stock had previously closed at C$8.61.

Wall Street Analyst Weigh In

Several equities analysts have commented on WCP shares. National Bankshares lowered their price target on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Raymond James upgraded shares of Whitecap Resources from a “market perform” rating to an “outperform” rating and set a C$13.00 target price on the stock in a research note on Tuesday, March 11th. Finally, Desjardins set a C$12.00 target price on shares of Whitecap Resources and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$13.52.

Whitecap Resources Stock Performance

The firm’s fifty day moving average price is C$9.40 and its 200-day moving average price is C$9.98. The company has a market cap of C$4.52 billion, a P/E ratio of 5.23, a P/E/G ratio of -0.33 and a beta of 2.67. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58.

Whitecap Resources Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 17th were paid a dividend of $0.0608 per share. The ex-dividend date was Friday, February 28th. This represents a $0.73 annualized dividend and a yield of 9.41%. Whitecap Resources’s dividend payout ratio is 49.25%.

Insiders Place Their Bets

In related news, Senior Officer Thanh Chan Kang acquired 10,000 shares of the stock in a transaction dated Thursday, April 3rd. The shares were bought at an average cost of C$8.73 per share, for a total transaction of C$87,300.00. Also, Director Grant Bradley Fagerheim bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of C$7.60 per share, with a total value of C$38,000.00. In the last quarter, insiders bought 88,120 shares of company stock worth $763,636. 0.84% of the stock is currently owned by company insiders.

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.