Whitecap Resources (TSE:WCP) Sets New 12-Month High After Analyst Upgrade

Whitecap Resources Inc. (TSE:WCP) shares reached a new 52-week high on Tuesday after Royal Bank Of Canada raised their price target on the stock from C$20.00 to C$22.00. Royal Bank Of Canada currently has an outperform rating on the stock. Whitecap Resources traded as high as C$20.41 and last traded at C$20.26, with a volume of 7,363,272 shares changing hands. The stock had previously closed at C$20.17.

WCP has been the topic of several other reports. TD lifted their target price on Whitecap Resources from C$18.00 to C$21.00 and gave the company a “buy” rating in a research report on Friday, September 11th. Desjardins raised their target price on shares of Whitecap Resources from C$23.00 to C$24.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, National Bank Financial lifted their price objective on Whitecap Resources from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$19.36.

Whitecap Resources Price Performance

The firm’s 50-day moving average price is C$18.38 and its two-hundred day moving average price is C$16.68. 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 stock has a market cap of C$24.44 billion, a PE ratio of 17.95, a PEG ratio of -0.33 and a beta of 0.29.

Whitecap Resources (TSE:WCP) last announced its earnings results on Wednesday, July 29th. The company reported C$0.73 earnings per share (EPS) for the quarter. The business had revenue of C$2.35 billion for the quarter. Whitecap Resources had a return on equity of 12.87% and a net margin of 19.66%. On average, equities analysts expect that Whitecap Resources Inc. will post 1.12 earnings per share for the current fiscal year.

Whitecap Resources Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were given a dividend of $0.0608 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.73 dividend on an annualized basis and a yield of 3.6%. Whitecap Resources’s dividend payout ratio is presently 65.14%.

About Whitecap Resources

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.