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

Whitecap Resources Inc. (TSE:WCP)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$11.33 and last traded at C$11.33, with a volume of 1193936 shares traded. The stock had previously closed at C$11.12.

Analyst Ratings Changes

Several brokerages have recently commented on WCP. TD Securities upped their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Scotiabank lifted their price target on Whitecap Resources from C$12.00 to C$14.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. National Bankshares dropped their target price on shares of Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Desjardins lifted their price target on shares of Whitecap Resources from C$13.00 to C$13.50 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Tudor Pickering upgraded Whitecap Resources to a “strong-buy” rating in a research note on Wednesday, October 15th. Four equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Whitecap Resources currently has a consensus rating of “Buy” and a consensus target price of C$14.00.

Whitecap Resources Price Performance

The stock has a 50 day simple moving average of C$10.68 and a 200-day simple moving average of C$9.88. The firm has a market cap of C$13.73 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of -0.33 and a beta of 0.50. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58.

Whitecap Resources (TSE:WCP) last issued its earnings results 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 company had revenue of C$1.54 billion for the quarter. Equities analysts anticipate that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current fiscal year.

Whitecap Resources Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 17th were given a dividend of $0.0608 per share. The ex-dividend date was Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. Whitecap Resources’s dividend payout ratio is currently 64.57%.

Insider Transactions at Whitecap Resources

In related news, Director Grant Bradley Fagerheim purchased 15,000 shares of the firm’s stock in a transaction on Friday, October 10th. The shares were acquired at an average price of C$10.60 per share, for a total transaction of C$159,000.00. Following the purchase, the director directly owned 3,220,745 shares in the company, valued at C$34,139,897. This trade represents a 0.47% increase in their ownership of the stock. Corporate insiders own 0.84% of the company’s stock.

About Whitecap Resources

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.