Whitecap Resources (TSE:WCP) Hits New 1-Year High Following Analyst Upgrade

Whitecap Resources Inc. (TSE:WCP)’s stock price reached a new 52-week high during trading on Friday after Stifel Nicolaus raised their price target on the stock from C$13.75 to C$14.75. Stifel Nicolaus currently has a buy rating on the stock. Whitecap Resources traded as high as C$11.55 and last traded at C$11.49, with a volume of 1988225 shares. The stock had previously closed at C$11.05.

Several other analysts also recently issued reports on WCP. Raymond James cut their price target on Whitecap Resources from C$16.00 to C$15.00 in a report on Friday, July 14th. Desjardins cut their price target on Whitecap Resources from C$14.50 to C$12.75 and set a “buy” rating on the stock in a report on Tuesday, July 25th. Royal Bank of Canada raised their price target on Whitecap Resources from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Finally, Barclays cut their target price on Whitecap Resources from C$14.00 to C$13.00 in a research note on Friday, June 30th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$14.45.

Insider Activity

In other news, Director Vineeta Maguire purchased 10,683 shares of the stock in a transaction dated Wednesday, June 21st. The shares were bought at an average cost of C$9.36 per share, for a total transaction of C$99,992.88. 0.75% of the stock is owned by insiders.

Whitecap Resources Trading Up 4.8 %

The firm has a market cap of C$7.02 billion, a price-to-earnings ratio of 6.54, a PEG ratio of -0.33 and a beta of 2.90. The company has a 50-day moving average price of C$10.29 and a 200 day moving average price of C$10.22. The company has a quick ratio of 0.67, a current ratio of 0.87 and a debt-to-equity ratio of 24.26.

Whitecap Resources (TSE:WCP) last issued its earnings results on Wednesday, July 26th. The company reported C$0.29 EPS for the quarter, topping the consensus estimate of C$0.25 by C$0.04. The business had revenue of C$873.40 million during the quarter. Whitecap Resources had a return on equity of 21.71% and a net margin of 31.05%. As a group, research analysts anticipate that Whitecap Resources Inc. will post 1.1297561 earnings per share for the current fiscal year.

Whitecap Resources Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.048 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.58 dividend on an annualized basis and a yield of 4.97%. Whitecap Resources’s payout ratio is 32.77%.

About Whitecap Resources

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. Whitecap Resources Inc is headquartered in Calgary, Canada.