Whitecap Resources (TSE:WCP) Hits New 52-Week High – Still a Buy?

Whitecap Resources Inc. (TSE:WCP)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$18.43 and last traded at C$18.17, with a volume of 2412976 shares traded. The stock had previously closed at C$17.98.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. National Bank Financial boosted their price target on shares of 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. Royal Bank Of Canada lifted their target price on shares of Whitecap Resources from C$18.00 to C$20.00 and gave the company an “outperform” rating in a research note on Tuesday, May 26th. Finally, Desjardins set a C$22.00 target price on Whitecap Resources and gave the stock a “buy” rating in a report on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company’s stock. According to MarketBeat.com, Whitecap Resources currently has a consensus rating of “Buy” and an average target price of C$18.55.

Whitecap Resources Stock Performance

The stock has a market cap of C$22.08 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of -0.33 and a beta of 0.21. The company has a current ratio of 0.56, a quick ratio of 0.67 and a debt-to-equity ratio of 24.14. The firm has a fifty day simple moving average of C$16.55 and a 200-day simple moving average of C$15.68.

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

Whitecap Resources Dividend Announcement

The company 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) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, July 31st. Whitecap Resources’s dividend payout ratio (DPR) is presently 65.14%.

Insider Buying and Selling

In other news, insider Travis Bjarne Tweit acquired 3,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of C$15.48 per share, with a total value of C$46,440.00. Following the acquisition, the insider owned 230,204 shares of the company’s stock, valued at C$3,563,557.92. This trade represents a 1.32% increase in their position. Also, insider Joseph Adam Wong acquired 7,500 shares of the company’s stock in a transaction 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 completion of the acquisition, the insider directly owned 111,416 shares in the company, valued at approximately C$1,611,075.36. The trade was a 7.22% increase in their position. Insiders bought a total of 25,500 shares of company stock worth $380,990 over the last three months. 0.84% of the stock is currently 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.