Whitecap Resources (TSE:WCP) Reaches New 52-Week High – What’s Next?

Whitecap Resources Inc. (TSE:WCP)’s share price hit a new 52-week high during trading on Friday . The company traded as high as C$16.49 and last traded at C$16.48, with a volume of 2505406 shares traded. The stock had previously closed at C$16.19.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WCP. Scotiabank raised Whitecap Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 19th. Desjardins lifted their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. National Bank Financial lifted their price target on Whitecap Resources from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Scotia boosted their target price on Whitecap Resources from C$17.00 to C$19.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 30th. Finally, ATB Cormark Capital Markets boosted their target price on Whitecap Resources from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Three 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.com, Whitecap Resources presently has a consensus rating of “Buy” and an average price target of C$16.73.

Whitecap Resources Stock Up 3.3%

The company has a debt-to-equity ratio of 33.01, a current ratio of 0.54 and a quick ratio of 0.67. The stock has a market capitalization of C$20.31 billion, a PE ratio of 22.92, a PEG ratio of -0.33 and a beta of 0.38. The company has a 50 day moving average price of C$14.91 and a 200-day moving average price of C$12.91.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings results on Wednesday, April 29th. The company reported C$0.02 earnings per share for the quarter. The company had revenue of C$1.84 billion for the quarter. Whitecap Resources had a return on equity of 7.70% and a net margin of 13.32%. As a group, analysts forecast that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current fiscal year.

Whitecap Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 15th will be paid a $0.0608 dividend. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Thursday, April 30th. Whitecap Resources’s dividend payout ratio is presently 99.95%.

Insiders Place Their Bets

In related news, Director Grant Bradley Fagerheim sold 5,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of C$13.76, for a total value of C$68,800.00. Following the sale, the director directly owned 3,278,099 shares of the company’s stock, valued at C$45,106,642.24. This represents a 0.15% decrease in their ownership of the stock. Insiders sold 6,100 shares of company stock valued at $83,826 over the last 90 days. 0.84% of the stock is owned by corporate insiders.

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.