Whitecap Resources (TSE:WCP) Sets New 52-Week High - Here's What Happened

Key Points

• Whitecap Resources shares reached a new 52-week high, trading as high as C$20.41 before closing near C$20.26 on heavy volume.
• Analyst sentiment remains positive: National Bank raised its price target to C$27, while TD and Desjardins also issued “buy” ratings. The consensus rating is “Buy,” although the consensus target price is C$18.91.
• The company reported C$0.73 in quarterly EPS on C$2.35 billion in revenue and pays a monthly dividend of C$0.0608, equivalent to an annualized yield of about 3.6%.

Whitecap Resources Inc. (TSE:WCP - Get Free Report) shares reached a new 52-week high during trading on Tuesday. The stock traded as high as C$20.41 and last traded at C$20.26, with a volume of 7,363,272 shares. The stock had previously closed at C$20.17.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WCP. National Bank Financial boosted their target price on Whitecap Resources from C$26.00 to C$27.00 and gave the company an "outperform" rating in a research note on Wednesday, September 30th. TD increased their target price on Whitecap Resources from C$18.00 to C$21.00 and gave the company a "buy" rating in a report on Friday, September 11th. Finally, Desjardins set a C$22.00 price target on Whitecap Resources and gave the stock a "buy" rating in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of C$18.91.

Whitecap Resources Stock Performance

The business's fifty day simple moving average is C$18.26 and its 200-day simple moving average is C$16.60. The firm has a market cap of C$24.63 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of -0.33 and a beta of 0.29. The company has a current ratio of 0.56, a quick ratio of 0.67 and a debt-to-equity ratio of 24.14.

Whitecap Resources (TSE:WCP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$0.73 EPS for the quarter. The firm 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, sell-side analysts expect that Whitecap Resources Inc. will post 1.12 earnings per share for the current year.

Whitecap Resources Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were paid a $0.0608 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.73 annualized dividend and a dividend yield of 3.6%. Whitecap Resources's dividend payout ratio (DPR) is presently 65.14%.

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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