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

Whitecap Resources Inc. (TSE:WCP)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$17.35 and last traded at C$17.35, with a volume of 1478834 shares traded. The stock had previously closed at C$17.07.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WCP shares. Raymond James Financial lifted their price target on shares of Whitecap Resources from C$18.00 to C$20.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Scotia raised their price objective on Whitecap Resources from C$17.00 to C$19.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 30th. TD upped their target price on Whitecap Resources from C$17.00 to C$18.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. ATB Cormark Capital Markets increased their target price on Whitecap Resources from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Finally, Desjardins set a C$22.00 price target on Whitecap Resources and gave the stock a “buy” rating in a research report on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$18.55.

Whitecap Resources Trading Up 1.8%

The business has a fifty day simple moving average of C$15.87 and a 200-day simple moving average of C$15.10. The company has a debt-to-equity ratio of 24.14, a quick ratio of 0.67 and a current ratio of 0.56. The firm has a market cap of C$21.13 billion, a price-to-earnings ratio of 15.52, a PEG ratio of -0.33 and a beta of 0.16.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$0.73 earnings per share (EPS) for the quarter. The business had revenue of C$2.35 billion during the quarter. Whitecap Resources had a net margin of 19.66% and a return on equity of 12.87%. As a group, equities analysts forecast that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current fiscal year.

Whitecap Resources Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be paid a dividend of $0.0608 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a yield of 4.2%. Whitecap Resources’s dividend payout ratio (DPR) is currently 65.14%.

Insider Activity at Whitecap Resources

In related news, insider Joseph Adam Wong bought 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average price of C$14.46 per share, for a total transaction of C$108,450.00. Following the transaction, the insider directly owned 111,416 shares of the company’s stock, valued at approximately C$1,611,075.36. The trade was a 7.22% increase in their ownership of the stock. Also, Director Grant Bradley Fagerheim bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average cost of C$14.46 per share, for a total transaction of C$144,600.00. Following the completion of the purchase, the director owned 3,308,099 shares of the company’s stock, valued at C$47,835,111.54. This represents a 0.30% increase in their ownership of the stock. Insiders have purchased 31,500 shares of company stock worth $481,010 in the last quarter. Company insiders own 0.84% of the company’s stock.

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.