Whitecap Resources (TSE:WCP) Reaches New 1-Year High – Still a Buy?

Whitecap Resources Inc. (TSE:WCP) shares hit 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 traded. The stock had previously closed at C$12.81.

Wall Street Analysts Forecast Growth

WCP has been the subject of a number of recent research reports. National Bank Financial increased their target price on Whitecap Resources from C$15.00 to C$16.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Scotiabank upped their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. 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 boosted their target price 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. Finally, Raymond James Financial upped their target price on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 23rd. Three 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’s stock. Based on data from MarketBeat, Whitecap Resources has an average rating of “Buy” and a consensus price target of C$14.50.

Whitecap Resources Trading Up 1.4%

The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. The company has a market cap of C$15.98 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of -0.33 and a beta of 0.69. The firm has a 50-day moving average price of C$11.79 and a 200 day moving average price of C$11.06.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported C$0.17 earnings per share (EPS) for the quarter. Whitecap Resources had a return on equity of 15.86% and a net margin of 24.23%.The firm had revenue of C$1.55 billion for the quarter. As a group, sell-side analysts forecast that Whitecap Resources Inc. will post 1.1226131 EPS for the current year.

Whitecap Resources Company Profile

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.