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

Whitecap Resources Inc. (TSE:WCP) shares hit a new 52-week high on Friday . The stock traded as high as C$15.24 and last traded at C$15.22, with a volume of 952497 shares trading hands. The stock had previously closed at C$14.95.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WCP. National Bank Financial lifted their target price on shares of Whitecap Resources from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Canaccord Genuity Group raised their price objective on shares of Whitecap Resources from C$14.00 to C$15.50 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. BMO Capital Markets boosted their price objective on Whitecap Resources from C$13.00 to C$15.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Desjardins upped their target price on Whitecap Resources from C$14.00 to C$15.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Royal Bank Of Canada increased their target price on Whitecap Resources from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Three investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$15.15.

Whitecap Resources Price Performance

The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 40.03. The company’s 50 day moving average is C$13.41 and its 200 day moving average is C$11.89. The firm has a market capitalization of C$18.86 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of -0.33 and a beta of 0.67.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings data on Monday, February 23rd. The company reported C$0.26 earnings per share for the quarter. The business had revenue of C$1.51 billion during the quarter. Whitecap Resources had a net margin of 18.38% and a return on equity of 10.14%. On average, equities research analysts anticipate that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current fiscal year.

Whitecap Resources Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 16th were given a $0.0608 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Friday, February 27th. Whitecap Resources’s payout ratio is presently 73.70%.

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.