Whitecap Resources (TSE:WCP) Sets New 12-Month High Following Analyst Upgrade

Whitecap Resources Inc. (TSE:WCP)’s stock price reached a new 52-week high during trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from C$20.00 to C$22.00. Royal Bank Of Canada currently has an outperform rating on the stock. Whitecap Resources traded as high as C$20.41 and last traded at C$20.26, with a volume of 7,363,272 shares changing hands. The stock had previously closed at C$20.17.

WCP has been the subject of several other research reports. Desjardins upped their target price on Whitecap Resources from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research report on Tuesday. National Bank Financial raised their target price on Whitecap Resources from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, TD raised their target price on Whitecap Resources from C$18.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$19.36.

Whitecap Resources Price Performance

The company has a market capitalization of C$24.44 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of -0.33 and a beta of 0.29. The company has a quick ratio of 0.67, a current ratio of 0.56 and a debt-to-equity ratio of 24.14. The firm has a 50 day moving average price of C$18.38 and a two-hundred day moving average price of C$16.68.

Whitecap Resources (TSE:WCP) last released its quarterly earnings results on Wednesday, July 29th. The company reported C$0.73 EPS for the quarter. The business had revenue of C$2.35 billion for the quarter. Whitecap Resources had a return on equity of 12.87% and a net margin of 19.66%. As a group, sell-side analysts expect that Whitecap Resources Inc. will post 1.12 earnings per share for the current year.

Whitecap Resources Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were paid a $0.0608 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, July 31st. Whitecap Resources’s payout ratio is 65.14%.

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.