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

Shares of Whitecap Resources Inc. (TSE:WCP) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$11.91 and last traded at C$11.88, with a volume of 2178382 shares changing hands. The stock had previously closed at C$11.66.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WCP shares. Capital One Financial upgraded shares of Whitecap Resources to a “strong-buy” rating in a research note on Monday, October 27th. National Bankshares set a C$15.00 target price on Whitecap Resources and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Tudor Pickering raised shares of Whitecap Resources to a “strong-buy” rating in a report on Wednesday, October 15th. Raymond James Financial lifted their target price on Whitecap Resources from C$14.00 to C$15.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Scotiabank increased their target price on Whitecap Resources from C$12.00 to C$14.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Four research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$14.08.

Whitecap Resources Stock Performance

The stock has a market cap of C$14.37 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of -0.33 and a beta of 0.55. The stock has a 50 day simple moving average of C$10.89 and a 200 day simple moving average of C$10.17. 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 released its earnings results on Wednesday, October 22nd. The company reported C$0.17 EPS for the quarter. The firm had revenue of C$1.55 billion for the quarter. Whitecap Resources had a net margin of 24.23% and a return on equity of 15.86%. On average, equities analysts expect that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current year.

Whitecap Resources Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 17th were issued a $0.0608 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Friday, October 31st. Whitecap Resources’s dividend payout ratio (DPR) is currently 64.57%.

Insider Activity

In other news, Director Grant Bradley Fagerheim purchased 15,000 shares of the company’s stock in a transaction dated Friday, October 10th. The stock was bought at an average cost of C$10.60 per share, for a total transaction of C$159,000.00. Following the purchase, the director owned 3,220,745 shares of the company’s stock, valued at approximately C$34,139,897. The trade was a 0.47% increase in their ownership of the stock. Also, Director Bradley John Wall acquired 2,800 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were purchased at an average cost of C$10.70 per share, for a total transaction of C$29,960.00. Following the acquisition, the director owned 3,800 shares in the company, valued at C$40,660. This represents a 280.00% increase in their ownership of the stock. 0.84% of the stock is currently owned by insiders.

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.