Whitecap Resources (TSE:WCP) Sets New 1-Year High – Time to Buy?

Whitecap Resources Inc. (TSE:WCP)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as C$17.33 and last traded at C$17.32, with a volume of 5672624 shares. The stock had previously closed at C$16.76.

Analyst Upgrades and Downgrades

WCP has been the topic of several recent research reports. ATB Cormark Capital Markets increased their target price on Whitecap Resources from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Scotia upped their price objective on Whitecap Resources from C$17.00 to C$19.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 30th. Royal Bank Of Canada raised their price objective on Whitecap Resources from C$18.00 to C$20.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. BMO Capital Markets boosted their target price on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Finally, Raymond James Financial increased their price target on shares of Whitecap Resources from C$18.00 to C$20.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Three investment 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.com, Whitecap Resources presently has a consensus rating of “Buy” and a consensus price target of C$17.00.

Whitecap Resources Stock Performance

The firm has a market cap of C$20.95 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of -0.33 and a beta of 0.38. The company has a debt-to-equity ratio of 33.01, a current ratio of 0.54 and a quick ratio of 0.67. The firm has a fifty day simple moving average of C$15.53 and a two-hundred day simple moving average of C$13.49.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings data on Wednesday, April 29th. The company reported C$0.02 EPS for the quarter. The firm had revenue of C$1.84 billion during the quarter. Whitecap Resources had a net margin of 13.32% and a return on equity of 7.70%. On average, analysts expect that Whitecap Resources Inc. will post 1.1226131 EPS for the current year.

Whitecap Resources Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were issued a $0.0608 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. Whitecap Resources’s dividend payout ratio (DPR) is currently 99.95%.

Insider Buying and Selling at Whitecap Resources

In related news, Director Grant Bradley Fagerheim sold 5,000 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of C$13.76, for a total value of C$68,800.00. Following the completion of the transaction, the director owned 3,278,099 shares in the company, valued at C$45,106,642.24. This trade represents a 0.15% decrease in their position. Also, insider Travis Bjarne Tweit purchased 3,000 shares of the stock in a transaction on Monday, May 25th. The shares were purchased at an average cost of C$16.42 per share, with a total value of C$49,260.00. Following the transaction, the insider owned 227,204 shares in the company, valued at C$3,730,689.68. This trade represents a 1.34% increase in their position. Insiders have sold 6,100 shares of company stock valued at $83,826 over the last quarter. Insiders own 0.84% of the company’s stock.

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.