Whitecap Resources (TSE:WCP) Reaches New 12-Month High - Here's What Happened

Key Points

• Whitecap Resources shares reached a new 52-week high, trading as high as C$18.29 and closing near C$18.25, up from the prior close of C$17.96.
• Analyst sentiment remains positive: the stock has an average “Buy” rating, with recent price-target increases ranging from C$20 to C$26 and an average target of C$18.55.
• Whitecap reported quarterly revenue of C$2.35 billion and EPS of C$0.73, while maintaining a monthly dividend of C$0.0608, equivalent to an approximately 4.0% annual yield.

Shares of Whitecap Resources Inc. (TSE:WCP - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as C$18.29 and last traded at C$18.25, with a volume of 3832559 shares. The stock had previously closed at C$17.96.

Wall Street Analyst Weigh In

WCP has been the topic of a number of research reports. National Bank Financial boosted their price objective on Whitecap Resources from C$25.00 to C$26.00 and gave the company an "outperform" rating in a research note on Wednesday, July 8th. Desjardins set a C$22.00 target price on shares of Whitecap Resources and gave the stock a "buy" rating in a research report on Friday, July 17th. Finally, Royal Bank Of Canada lifted their target price on shares of Whitecap Resources from C$18.00 to C$20.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 26th. Three investment analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of C$18.55.

Whitecap Resources Stock Performance

The company has a market capitalization of C$22.32 billion, a PE ratio of 16.39, a PEG ratio of -0.33 and a beta of 0.16. The company has a quick ratio of 0.67, a current ratio of 0.56 and a debt-to-equity ratio of 24.14. The company has a 50-day moving average price of C$16.25 and a two-hundred day moving average price of C$15.51.

Whitecap Resources (TSE:WCP - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$0.73 earnings per share (EPS) for the quarter. Whitecap Resources had a return on equity of 12.87% and a net margin of 19.66%.The company had revenue of C$2.35 billion for the quarter. Analysts predict that Whitecap Resources Inc. will post 1.1226131 EPS for the current fiscal year.

Whitecap Resources Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 17th were issued a $0.0608 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, July 31st. Whitecap Resources's dividend payout ratio is presently 65.14%.

Insider Activity

In other news, insider Travis Bjarne Tweit acquired 3,000 shares of the business's stock in a transaction dated Monday, June 15th. The stock was bought at an average cost of C$15.48 per share, for a total transaction of C$46,440.00. Following the completion of the transaction, the insider owned 230,204 shares of the company's stock, valued at C$3,563,557.92. The trade was a 1.32% increase in their ownership of the stock. Also, insider Joseph Adam Wong acquired 7,500 shares of Whitecap Resources stock in a transaction that occurred on Monday, July 6th. The shares were purchased at an average cost of C$14.46 per share, with a total value of C$108,450.00. Following the purchase, the insider owned 111,416 shares of the company's stock, valued at C$1,611,075.36. This represents a 7.22% increase in their position. Over the last ninety days, insiders bought 25,500 shares of company stock worth $380,990. 0.84% of the stock is owned by company insiders.

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.

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