Whitecap Resources (TSE:WCP) Sets New 52-Week High – Time to Buy?

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

Analyst Ratings Changes

Several analysts have commented on WCP shares. Desjardins lifted their price objective on shares of Whitecap Resources from C$13.50 to C$14.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. TD Securities increased their price objective on Whitecap Resources from C$13.00 to C$14.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Scotiabank boosted their target price on Whitecap Resources from C$14.00 to C$15.00 and gave the company a “hold” rating in a research note on Tuesday, January 20th. National Bankshares lifted their price objective on Whitecap Resources from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Finally, Capital One Financial raised shares of Whitecap Resources to a “strong-buy” rating in a report on Monday, October 27th. Four equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$14.50.

Whitecap Resources Stock Up 1.2%

The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67. The company has a market cap of C$15.75 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of -0.33 and a beta of 0.69. The company has a 50 day moving average of C$11.74 and a 200-day moving average of C$11.03.

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. The business had revenue of C$1.55 billion during the quarter. Whitecap Resources had a net margin of 24.23% and a return on equity of 15.86%. On average, equities analysts predict that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current 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.