Whitecap Resources (TSE:WCP) Hits New 52-Week High – Still a Buy?

Whitecap Resources Inc. (TSE:WCP)’s share price hit a new 52-week high on Thursday . The stock traded as high as C$17.33 and last traded at C$16.85, with a volume of 6550379 shares. The stock had previously closed at C$17.18.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WCP. Raymond James Financial lifted their price objective on shares of 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 shares of Whitecap Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 19th. BMO Capital Markets lifted their price objective on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. TD lifted their price objective on shares of Whitecap Resources from C$17.00 to C$18.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, TD Securities lifted their price objective on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Three equities research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$16.73.

Whitecap Resources Stock Down 1.9%

The firm’s 50-day moving average price is C$15.16 and its 200 day moving average price is C$13.08. The company has a market capitalization of C$20.45 billion, a price-to-earnings ratio of 23.08, a PEG ratio of -0.33 and a beta of 0.38. The company has a current ratio of 0.54, a quick ratio of 0.67 and a debt-to-equity ratio of 33.01.

Whitecap Resources (TSE:WCP) last issued its earnings results on Wednesday, April 29th. The company reported C$0.02 EPS for the quarter. The company 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, sell-side analysts forecast that Whitecap Resources Inc. will post 1.1226131 EPS for the current fiscal year.

Whitecap Resources Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were given a $0.0608 dividend. The ex-dividend date was Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 4.3%. Whitecap Resources’s payout ratio is presently 99.95%.

Insider Activity at Whitecap Resources

In related news, Director Grant Bradley Fagerheim sold 5,000 shares of Whitecap Resources stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of C$13.76, for a total transaction of C$68,800.00. Following the sale, the director directly owned 3,278,099 shares of the company’s stock, valued at approximately C$45,106,642.24. The trade was a 0.15% decrease in their position. In the last ninety days, insiders have sold 6,100 shares of company stock valued at $83,826. 0.84% of the stock is currently owned by insiders.

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.