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

Whitecap Resources Inc. (TSE:WCP)’s stock price reached a new 52-week high on Thursday . The stock traded as high as C$17.33 and last traded at C$17.32, with a volume of 5672624 shares trading hands. The stock had previously closed at C$16.76.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WCP shares. Scotia raised their target price on shares of Whitecap Resources from C$17.00 to C$19.00 and gave the company a “sector outperform” rating in a report on Thursday, April 30th. BMO Capital Markets raised their target price on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. ATB Cormark Capital Markets raised their price target on shares of Whitecap Resources from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Scotiabank raised shares of Whitecap Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 19th. Finally, Raymond James Financial raised their price target 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. Three analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to data from MarketBeat, Whitecap Resources presently has a consensus rating of “Buy” and an average target price of C$17.00.

Whitecap Resources Price Performance

The company’s 50 day simple moving average is C$15.62 and its 200-day simple moving average is C$13.55. The company has a current ratio of 0.54, a quick ratio of 0.67 and a debt-to-equity ratio of 33.01. The company has a market capitalization of C$20.07 billion, a price-to-earnings ratio of 22.62, a PEG ratio of -0.33 and a beta of 0.14.

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

Whitecap Resources Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were paid a dividend of $0.0608 per share. The ex-dividend date was Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. Whitecap Resources’s dividend payout ratio (DPR) is currently 99.95%.

Insider Buying and Selling

In other 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 owned 3,278,099 shares in the company, valued at C$45,106,642.24. This trade represents a 0.15% decrease in their ownership of the stock. Also, insider Travis Bjarne Tweit purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 25th. The stock was bought at an average price of C$16.42 per share, with a total value of C$49,260.00. Following the purchase, the insider owned 227,204 shares of the company’s stock, valued at approximately C$3,730,689.68. The trade was a 1.34% increase in their position. Insiders have sold 6,100 shares of company stock worth $83,826 in the last quarter. Insiders own 0.84% of the company’s stock.

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.