Whitecap Resources (TSE:WCP) Reaches New 52-Week High – Should You Buy?

Whitecap Resources Inc. (TSE:WCP) reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as C$19.60 and last traded at C$19.43, with a volume of 768,219 shares traded. The stock had previously closed at C$19.31.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WCP shares. National Bank Financial upped their price objective on shares of Whitecap Resources from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research report on Wednesday, September 30th. TD lifted their target price on Whitecap Resources from C$18.00 to C$21.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Finally, Desjardins set a C$22.00 target price on Whitecap Resources and gave the stock a “buy” rating in a research report on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Whitecap Resources presently has a consensus rating of “Buy” and an average price target of C$18.91.

Whitecap Resources Price Performance

The company has a market cap of C$23.70 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of -0.33 and a beta of 0.29. The company has a current ratio of 0.56, a quick ratio of 0.67 and a debt-to-equity ratio of 24.14. The company has a fifty day moving average price of C$17.96 and a two-hundred day moving average price of C$16.48.

Whitecap Resources (TSE:WCP) last announced its earnings results on Wednesday, July 29th. The company reported C$0.73 earnings per share for the quarter. Whitecap Resources had a return on equity of 12.87% and a net margin of 19.66%. The company had revenue of C$2.35 billion during the quarter. As a group, equities research analysts anticipate that Whitecap Resources Inc. will post 1.12 EPS for the current fiscal year.

Whitecap Resources Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were issued a $0.0608 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.7%. Whitecap Resources’s dividend payout ratio (DPR) is currently 65.14%.

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.