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

Whitecap Resources Inc. (TSE:WCP) reached a new 52-week high on Thursday . The stock traded as high as C$14.35 and last traded at C$14.22, with a volume of 2497392 shares trading hands. The stock had previously closed at C$14.00.

Analyst Upgrades and Downgrades

WCP has been the topic of a number of recent research reports. ATB Cormark Capital Markets upped their target price on Whitecap Resources from C$13.00 to C$15.00 and gave the company a “moderate buy” rating in a research note on Tuesday, February 24th. TD Securities upped their price objective on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Raymond James Financial lowered Whitecap Resources from a “strong-buy” rating to a “moderate buy” rating and increased their price target for the stock from C$15.00 to C$16.00 in a research note on Tuesday, February 24th. Royal Bank Of Canada upped their target price on Whitecap Resources from C$14.00 to C$16.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Finally, Canaccord Genuity Group upped their price objective on shares of Whitecap Resources from C$14.00 to C$15.50 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$15.15.

Whitecap Resources Stock Performance

The company has a market capitalization of C$17.38 billion, a P/E ratio of 14.46, a P/E/G ratio of -0.33 and a beta of 0.67. The stock’s 50-day moving average price is C$12.70 and its 200-day moving average price is C$11.56. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 40.03.

Whitecap Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 16th will be given a dividend of $0.0608 per share. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 5.1%. Whitecap Resources’s dividend payout ratio (DPR) is 73.70%.

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.