Whitecap Resources (TSE:WCP) Hits New 12-Month High – Here’s What Happened

Shares of Whitecap Resources Inc. (TSE:WCP) hit a new 52-week high on Wednesday . The stock traded as high as C$13.06 and last traded at C$12.88, with a volume of 1868897 shares trading hands. The stock had previously closed at C$12.81.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WCP. Raymond James Financial boosted 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. National Bankshares raised their target price on shares of Whitecap Resources from C$15.00 to C$16.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. 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 research note on Thursday, October 23rd. Tudor Pickering upgraded Whitecap Resources to a “strong-buy” rating in a research note on Wednesday, October 15th. Finally, Capital One Financial upgraded Whitecap Resources to a “strong-buy” rating in a report on Monday, October 27th. Four analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$14.50.

Whitecap Resources Price Performance

The firm has a 50-day moving average of C$11.74 and a 200 day moving average of C$11.03. The company has a market capitalization of C$15.75 billion, a PE ratio of 11.48, a PEG ratio of -0.33 and a beta of 0.69. The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67.

Whitecap Resources (TSE:WCP) last released its quarterly earnings results on Wednesday, October 22nd. The company reported C$0.17 earnings per share for the quarter. The firm had revenue of C$1.55 billion for the quarter. Whitecap Resources had a return on equity of 15.86% and a net margin of 24.23%. As a group, research analysts anticipate that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current fiscal year.

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.