Whitecap Resources (TSE:WCP) Reaches New 52-Week High - Should You Buy?

Key Points

• Whitecap Resources reached a new 52-week high, trading as high as C$19.11 and last trading at C$19.10, up from its previous close of C$18.68.
• Analyst sentiment remains positive, with three Strong Buy and ten Buy ratings. Recent price targets range from C$20 to C$26, although the average target is C$18.82.
• The company reported quarterly EPS of C$0.73 on C$2.35 billion in revenue and pays a monthly dividend yielding approximately 3.8%; insiders also recently purchased shares.

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as C$19.11 and last traded at C$19.10, with a volume of 2758007 shares traded. The stock had previously closed at C$18.68.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. TD upped their price objective on shares of Whitecap Resources from C$18.00 to C$21.00 and gave the company a "buy" rating in a research note on Friday. Desjardins set a C$22.00 target price on shares of Whitecap Resources and gave the stock a "buy" rating in a research note on Friday, July 17th. Royal Bank Of Canada boosted their target price on Whitecap Resources from C$18.00 to C$20.00 and gave the stock an "outperform" rating in a report on Tuesday, May 26th. Finally, National Bank Financial upped their price target on Whitecap Resources from C$25.00 to C$26.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Three 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, Whitecap Resources currently has an average rating of "Buy" and an average price target of C$18.82.

Whitecap Resources Stock Up 3.4%

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 business's 50 day simple moving average is C$16.94 and its 200 day simple moving average is C$15.86. The company has a market capitalization of C$23.49 billion, a PE ratio of 17.25, a P/E/G ratio of -0.33 and a beta of 0.21.

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

Whitecap Resources Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were given a $0.0608 dividend. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, July 31st. Whitecap Resources's dividend payout ratio is presently 65.14%.

Insider Buying and Selling at Whitecap Resources

In other Whitecap Resources news, insider Joseph Adam Wong bought 7,500 shares of Whitecap Resources stock in a transaction on Monday, July 6th. The shares were bought at an average price of C$14.46 per share, for a total transaction of C$108,450.00. Following the completion of the transaction, the insider directly owned 111,416 shares of the company's stock, valued at C$1,611,075.36. This trade represents a 7.22% increase in their ownership of the stock. Also, Director Grant Bradley Fagerheim purchased 10,000 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was acquired at an average cost of C$14.46 per share, for a total transaction of C$144,600.00. Following the purchase, the director owned 3,308,099 shares in the company, valued at approximately C$47,835,111.54. The trade was a 0.30% increase in their ownership of the stock. 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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