Whitecap Resources (TSE:WCP) Hits New 52-Week High – Here’s Why

Shares of Whitecap Resources Inc. (TSE:WCP) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$12.80 and last traded at C$12.63, with a volume of 6551154 shares traded. The stock had previously closed at C$12.66.

Analysts Set New Price Targets

A number of brokerages have commented on WCP. Raymond James Financial boosted 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 note on Thursday, October 23rd. TD Securities upped their price target on Whitecap Resources from C$13.00 to C$14.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Tudor Pickering upgraded shares of Whitecap Resources to a “strong-buy” rating in a research note on Wednesday, October 15th. Capital One Financial raised Whitecap Resources to a “strong-buy” rating in a report on Monday, October 27th. Finally, Desjardins upped their price objective on Whitecap Resources from C$13.50 to C$14.00 and gave the company a “buy” rating in a research note on Monday. Four equities 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’s stock. According to MarketBeat.com, Whitecap Resources currently has an average rating of “Buy” and an average price target of C$14.33.

Whitecap Resources Price Performance

The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88. The business has a 50 day simple moving average of C$11.57 and a two-hundred day simple moving average of C$10.86. The firm has a market capitalization of C$15.33 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of -0.33 and a beta of 0.62.

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

Whitecap Resources Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, November 17th. Shareholders 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) annualized dividend and a yield of 5.8%. Whitecap Resources’s payout ratio is 64.57%.

Whitecap Resources Company Profile

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.