Whitecap Resources (TSE:WCP) Hits New 12-Month High – Still a Buy?

Whitecap Resources Inc. (TSE:WCP)’s stock price reached a new 52-week high on Friday . The company traded as high as C$12.12 and last traded at C$12.07, with a volume of 1542402 shares traded. The stock had previously closed at C$11.90.

Wall Street Analyst Weigh In

WCP has been the topic of a number of recent research reports. Raymond James Financial increased their price target on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 23rd. Tudor Pickering raised shares of Whitecap Resources to a “strong-buy” rating in a research note on Wednesday, October 15th. National Bankshares set a C$15.00 target price on shares of Whitecap Resources and gave the company an “outperform” rating in a report on Friday, January 9th. Scotiabank boosted their price target on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Desjardins upped 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. Four research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Whitecap Resources has an average rating of “Buy” and a consensus price target of C$14.25.

Whitecap Resources Trading Up 1.3%

The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. The firm has a market cap of C$14.63 billion, a PE ratio of 10.66, a PEG ratio of -0.33 and a beta of 0.62. The firm has a fifty day simple moving average of C$11.49 and a two-hundred day simple moving average of C$10.77.

Whitecap Resources (TSE:WCP) last announced its earnings results on Wednesday, October 22nd. The company reported C$0.17 EPS for the quarter. The company had revenue of C$1.55 billion during the quarter. Whitecap Resources had a return on equity of 15.86% and a net margin of 24.23%. Equities analysts forecast that Whitecap Resources Inc. will post 1.1226131 EPS for the current year.

Whitecap Resources Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 17th were paid a dividend of $0.0608 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. Whitecap Resources’s payout ratio is presently 64.57%.

Insider Activity

In related news, Director Bradley John Wall purchased 2,800 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was bought at an average cost of C$10.70 per share, with a total value of C$29,960.00. Following the completion of the purchase, the director directly owned 3,800 shares in the company, valued at approximately C$40,660. This represents a 280.00% increase in their ownership of the stock. 0.84% of the stock is owned by corporate 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. To extract petroleum products from its resources, the company uses horizontal drilling, in addition to multistage fracturing technology. Crude oil is the leading revenue generator out of the basket of energy products sold by Whitecap.