Whitecap Resources (TSE:WCP) Hits New 52-Week High – What’s Next?

Shares of Whitecap Resources Inc. (TSE:WCP) reached a new 52-week high on Tuesday . The company traded as high as C$16.28 and last traded at C$16.26, with a volume of 2811566 shares traded. The stock had previously closed at C$16.08.

Wall Street Analyst Weigh In

WCP has been the topic of a number of recent analyst reports. Raymond James Financial increased their target price on Whitecap Resources from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Scotiabank upgraded Whitecap Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 19th. ATB Cormark Capital Markets lifted their target price on Whitecap Resources from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Desjardins raised their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, TD lifted their target price on Whitecap Resources from C$17.00 to C$18.00 and gave the stock a “buy” rating in a 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$16.73.

Whitecap Resources Stock Performance

The firm has a 50-day moving average of C$14.53 and a two-hundred day moving average of C$12.59. The company has a quick ratio of 0.67, a current ratio of 0.54 and a debt-to-equity ratio of 33.01. The company has a market capitalization of C$19.81 billion, a PE ratio of 22.36, a PEG ratio of -0.33 and a beta of 0.27.

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

Whitecap Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 15th will be given a dividend of $0.0608 per share. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date is Thursday, April 30th. Whitecap Resources’s dividend payout ratio (DPR) is currently 99.95%.

Insiders Place Their Bets

In other news, Director Grant Bradley Fagerheim sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 3,278,099 shares in the company, valued at C$45,106,642.24. The trade was a 0.15% decrease in their ownership of the stock. Insiders sold 6,100 shares of company stock worth $83,826 in the last three months. 0.84% of the stock is currently owned by company insiders.

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.