Whitecap Resources (TSE:WCP) Reaches New 1-Year High - Here's What Happened

Key Points

• Whitecap Resources reached a new 52-week high, trading as high as C$19.60 before closing at C$19.43, compared with the prior close of C$19.31.
• Analyst sentiment remains positive: three analysts rate the stock a Strong Buy and ten rate it a Buy. Recent price targets include C$21 from TD, C$22 from Desjardins, and C$27 from National Bank Financial.
• The company reported C$0.73 in quarterly EPS on C$2.35 billion in revenue and pays a monthly dividend of $0.0608 per share, equivalent to an annualized yield of approximately 3.7%.

Whitecap Resources Inc. (TSE:WCP - Get Free Report) reached a new 52-week high on Wednesday. The company traded as high as C$19.60 and last traded at C$19.43, with a volume of 768,219 shares traded. The stock had previously closed at C$19.31.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WCP shares. Desjardins set a C$22.00 price objective on Whitecap Resources and gave the company a "buy" rating in a research report on Friday, July 17th. National Bank Financial upped their target price on Whitecap Resources from C$26.00 to C$27.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 30th. Finally, TD raised their price target on Whitecap Resources from C$18.00 to C$21.00 and gave the stock a "buy" rating in a research note on Friday, September 11th. Three analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to data from MarketBeat.com, Whitecap Resources presently has an average rating of "Buy" and a consensus target price of C$18.91.

Whitecap Resources Price Performance

The company has a debt-to-equity ratio of 24.14, a current ratio of 0.56 and a quick ratio of 0.67. The stock has a market capitalization of C$23.70 billion, a price-to-earnings ratio of 17.40, a PEG ratio of -0.33 and a beta of 0.29. The stock's 50 day simple moving average is C$17.96 and its 200-day simple moving average is C$16.48.

Whitecap Resources (TSE:WCP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.73 EPS for the quarter. Whitecap Resources had a net margin of 19.66% and a return on equity of 12.87%. The company had revenue of C$2.35 billion for the quarter. On average, analysts expect that Whitecap Resources Inc. will post 1.12 EPS for the current fiscal year.

Whitecap Resources Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were given a dividend of $0.0608 per share. This represents a $0.73 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Friday, July 31st. Whitecap Resources's dividend payout ratio is presently 65.14%.

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.

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