Whitecap Resources (TSE:WCP) Reaches New 52-Week High – Still a Buy?

Whitecap Resources Inc. (TSE:WCP) shares reached a new 52-week high on Tuesday . The stock traded as high as C$18.43 and last traded at C$18.17, with a volume of 2412976 shares. The stock had previously closed at C$17.98.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Desjardins set a C$22.00 target price on shares of Whitecap Resources and gave the company a “buy” rating in a report on Friday, July 17th. Royal Bank Of Canada increased their price target on shares of Whitecap Resources from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. Finally, National Bank Financial lifted their price objective on shares of Whitecap Resources from C$25.00 to C$26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company’s stock. According to data from MarketBeat, Whitecap Resources currently has an average rating of “Buy” and a consensus target price of C$18.55.

Whitecap Resources Stock Performance

The company has a debt-to-equity ratio of 24.14, a current ratio of 0.56 and a quick ratio of 0.67. The stock has a 50-day simple moving average of C$16.70 and a 200-day simple moving average of C$15.75. The stock has a market cap of C$22.85 billion, a P/E ratio of 16.78, a PEG ratio of -0.33 and a beta of 0.21.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$0.73 earnings per share for the quarter. The company had revenue of C$2.35 billion for the quarter. Whitecap Resources had a net margin of 19.66% and a return on equity of 12.87%. Research analysts forecast that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current year.

Whitecap Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were issued a dividend of $0.0608 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 3.9%. Whitecap Resources’s dividend payout ratio (DPR) is 65.14%.

Insider Buying and Selling

In related news, Director Grant Bradley Fagerheim purchased 10,000 shares of Whitecap Resources stock in a transaction on Monday, July 6th. The stock was acquired at an average cost of C$14.46 per share, for a total transaction of C$144,600.00. Following the completion of the acquisition, the director owned 3,308,099 shares of the company’s stock, valued at C$47,835,111.54. This trade represents a 0.30% increase in their position. Also, insider Travis Bjarne Tweit purchased 3,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was bought at an average cost of C$15.48 per share, with a total value of C$46,440.00. Following the completion of the purchase, the insider owned 230,204 shares of the company’s stock, valued at approximately C$3,563,557.92. This represents a 1.32% increase in their position. Insiders have purchased a total of 25,500 shares of company stock valued at $380,990 over the last ninety days. 0.84% of the stock is owned by corporate insiders.

About Whitecap Resources

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.