Whitecap Resources (TSE:WCP) Sets New 1-Year High – Should You Buy?

Shares of Whitecap Resources Inc. (TSE:WCP) hit a new 52-week high on Tuesday. The company traded as high as C$20.41 and last traded at C$20.26, with a volume of 7,363,272 shares traded. The stock had previously closed at C$20.17.

Wall Street Analysts Forecast Growth

WCP has been the topic of several research analyst reports. National Bank Financial boosted their target price on Whitecap Resources from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research note on Wednesday, September 30th. TD upped their target price on Whitecap Resources from C$18.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, September 11th. Finally, Desjardins set a C$22.00 price target on Whitecap Resources and gave the stock a “buy” rating in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$18.91.

Whitecap Resources Stock Performance

The company’s 50-day moving average price is C$18.26 and its 200 day moving average price is C$16.60. The company has a debt-to-equity ratio of 24.14, a quick ratio of 0.67 and a current ratio of 0.56. The stock has a market capitalization of C$24.63 billion, a PE ratio of 18.09, a PEG ratio of -0.33 and a beta of 0.29.

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 net margin of 19.66% and a return on equity of 12.87%. The firm had revenue of C$2.35 billion for the quarter. On average, equities research analysts expect that Whitecap Resources Inc. will post 1.12 earnings per share for the current fiscal year.

Whitecap Resources Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were paid a $0.0608 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, July 31st. Whitecap Resources’s dividend payout ratio is presently 65.14%.

Whitecap Resources Company Profile

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.