Whitecap Resources (TSE:WCP) Reaches New 12-Month High – Time to Buy?

Whitecap Resources Inc. (TSE:WCP)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$12.12 and last traded at C$12.07, with a volume of 1542402 shares trading hands. The stock had previously closed at C$11.90.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WCP shares. Raymond James Financial increased their price objective on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 23rd. Desjardins upped their price target on Whitecap Resources from C$13.00 to C$13.50 and gave the stock a “buy” rating in a research note on Friday, October 24th. TD Securities raised their price target on Whitecap Resources from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. National Bankshares set a C$15.00 price objective on Whitecap Resources and gave the company an “outperform” rating in a report on Friday, January 9th. Finally, Capital One Financial raised Whitecap Resources to a “strong-buy” rating in a research note on Monday, October 27th. Four investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$14.25.

Whitecap Resources Trading Up 0.8%

The company’s 50 day simple moving average is C$11.51 and its 200 day simple moving average is C$10.80. The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67. The firm has a market cap of C$14.57 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of -0.33 and a beta of 0.62.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported C$0.17 earnings per share (EPS) for the quarter. Whitecap Resources had a return on equity of 15.86% and a net margin of 24.23%.The business had revenue of C$1.55 billion for the quarter. As a group, research analysts expect that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current fiscal year.

Whitecap Resources Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 17th were paid a $0.0608 dividend. This represents a c) annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Friday, October 31st. Whitecap Resources’s dividend payout ratio (DPR) is presently 64.57%.

Insider Activity at Whitecap Resources

In other news, Director Bradley John Wall bought 2,800 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were purchased at an average cost of C$10.70 per share, for a total transaction of C$29,960.00. Following the completion of the purchase, the director owned 3,800 shares of the company’s stock, valued at approximately C$40,660. This represents a 280.00% increase in their ownership of the stock. Corporate insiders own 0.84% of the company’s stock.

Whitecap Resources Company Profile

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap’s Canadian assets. To extract petroleum products from its resources, the company uses horizontal drilling, in addition to multistage fracturing technology. Crude oil is the leading revenue generator out of the basket of energy products sold by Whitecap.