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

Whitecap Resources Inc. (TSE:WCP)’s share price hit a new 52-week high on Thursday . The company traded as high as C$17.33 and last traded at C$17.32, with a volume of 5672624 shares changing hands. The stock had previously closed at C$16.76.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WCP shares. Raymond James Financial boosted their target price on Whitecap Resources from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. TD Securities lifted their price objective on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Scotiabank upgraded shares of Whitecap Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 19th. Desjardins increased their target price on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Canaccord Genuity Group lifted their price target on shares of Whitecap Resources from C$14.00 to C$15.50 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Three equities research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$17.00.

Whitecap Resources Price Performance

The stock’s 50 day moving average price is C$15.53 and its 200-day moving average price is C$13.49. The company has a quick ratio of 0.67, a current ratio of 0.54 and a debt-to-equity ratio of 33.01. The stock has a market capitalization of C$20.95 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of -0.33 and a beta of 0.38.

Whitecap Resources (TSE:WCP) last released its quarterly earnings data on Wednesday, April 29th. The company reported C$0.02 earnings per share (EPS) for the quarter. Whitecap Resources had a net margin of 13.32% and a return on equity of 7.70%. The company had revenue of C$1.84 billion during the quarter. As a group, equities analysts forecast that Whitecap Resources Inc. will post 1.1226131 EPS for the current year.

Whitecap Resources Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were given a dividend of $0.0608 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 4.2%. Whitecap Resources’s payout ratio is 99.95%.

Insider Buying and Selling at Whitecap Resources

In other news, insider Travis Bjarne Tweit bought 3,000 shares of the stock in a transaction on Monday, May 25th. The stock was acquired at an average cost of C$16.42 per share, for a total transaction of C$49,260.00. Following the acquisition, the insider owned 227,204 shares of the company’s stock, valued at C$3,730,689.68. This represents a 1.34% increase in their ownership of the stock. Also, Director Grant Bradley Fagerheim sold 5,000 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of C$13.76, for a total value of C$68,800.00. Following the transaction, the director directly owned 3,278,099 shares in the company, valued at C$45,106,642.24. The trade was a 0.15% decrease in their position. Insiders sold a total of 6,100 shares of company stock valued at $83,826 over the last quarter. Company insiders own 0.84% of the company’s stock.

About Whitecap Resources

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.