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

Key Points

• 52-week high: Whitecap Resources hit a new 52-week high, trading as high as C$14.35 and last at C$14.22 on a volume of 2,497,392 shares.
• Analyst upgrades: Multiple firms raised price targets and ratings (many to C$15–C$16), leaving a consensus Buy rating and an average price target of C$15.15.
• Monthly dividend: The company declared a monthly dividend of $0.0608 (ex-dividend Feb 27, payable Mar 16), implying a ~5.1% yield and a payout ratio of about 73.7%.

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as C$14.35 and last traded at C$14.22, with a volume of 2497392 shares. The stock had previously closed at C$14.00.

Analysts Set New Price Targets

WCP has been the subject of several research reports. Canaccord Genuity Group lifted their price objective on shares of Whitecap Resources from C$14.00 to C$15.50 and gave the company a "buy" rating in a research note on Tuesday, February 24th. National Bank Financial boosted their target price on shares of Whitecap Resources from C$15.00 to C$16.00 and gave the company an "outperform" rating in a research report on Tuesday, February 3rd. Raymond James Financial lowered Whitecap Resources from a "strong-buy" rating to a "moderate buy" rating and lifted their price objective for the company from C$15.00 to C$16.00 in a research note on Tuesday, February 24th. Desjardins upped their target price on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. Finally, TD Securities raised their target price on Whitecap Resources from C$13.00 to C$15.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Whitecap Resources presently has an average rating of "Buy" and an average price target of C$15.15.

Whitecap Resources Trading Up 1.6%

The stock has a market cap of C$17.26 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of -0.33 and a beta of 0.67. The company has a debt-to-equity ratio of 40.03, a quick ratio of 0.67 and a current ratio of 0.68. The company has a 50 day moving average of C$12.59 and a two-hundred day moving average of C$11.51.

Whitecap Resources Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 16th will be paid a $0.0608 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 5.1%. Whitecap Resources's dividend payout ratio (DPR) is currently 73.70%.

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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