Whitecap Resources (TSE:WCP) Sets New 12-Month High – Should You Buy?

Whitecap Resources Inc. (TSE:WCP)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as C$12.12 and last traded at C$12.07, with a volume of 1542402 shares trading hands. The stock had previously closed at C$11.90.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on WCP shares. Scotiabank boosted their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the company a “hold” rating in a research note on Tuesday. TD Securities lifted their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Desjardins increased their target price on shares of Whitecap Resources from C$13.00 to C$13.50 and gave the stock a “buy” rating in a research note on Friday, October 24th. Tudor Pickering upgraded shares of Whitecap Resources to a “strong-buy” rating in a report on Wednesday, October 15th. Finally, National Bankshares set a C$15.00 price target on shares of Whitecap Resources and gave the company an “outperform” rating in a research note on Friday, January 9th. Four equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Whitecap Resources has a consensus rating of “Buy” and an average target price of C$14.25.

Whitecap Resources Stock Up 1.3%

The firm has a market capitalization of C$14.63 billion, a P/E ratio of 10.66, a PEG ratio of -0.33 and a beta of 0.62. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88. The stock has a 50 day moving average of C$11.49 and a 200-day moving average of C$10.77.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported C$0.17 EPS for the quarter. The firm had revenue of C$1.55 billion during the quarter. Whitecap Resources had a return on equity of 15.86% and a net margin of 24.23%. Research analysts predict that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current fiscal year.

Whitecap Resources Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 17th were given a dividend of $0.0608 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Friday, October 31st. Whitecap Resources’s payout ratio is 64.57%.

Insider Activity

In other Whitecap Resources news, Director Bradley John Wall acquired 2,800 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were bought at an average price of C$10.70 per share, for a total transaction of C$29,960.00. Following the completion of the transaction, the director owned 3,800 shares of the company’s stock, valued at approximately C$40,660. This represents a 280.00% increase in their position. Company insiders own 0.84% of the company’s stock.

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.