Whitecap Resources (TSE:WCP) Reaches New 1-Year High – What’s Next?

Whitecap Resources Inc. (TSE:WCP)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as C$15.24 and last traded at C$15.22, with a volume of 952497 shares trading hands. The stock had previously closed at C$14.95.

Analyst Upgrades and Downgrades

WCP has been the topic of a number of research analyst reports. National Bank Financial boosted their target price on Whitecap Resources from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. ATB Cormark Capital Markets increased their price target on Whitecap Resources from C$13.00 to C$15.00 and gave the company a “moderate buy” rating in a research report on Tuesday, February 24th. Royal Bank Of Canada lifted their price target on Whitecap Resources from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Scotiabank raised Whitecap Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 19th. Finally, BMO Capital Markets raised their target price on Whitecap Resources from C$13.00 to C$15.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Three analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$15.15.

Whitecap Resources Price Performance

The firm has a market cap of C$18.81 billion, a P/E ratio of 15.66, a PEG ratio of -0.33 and a beta of 0.67. The business’s fifty day simple moving average is C$13.33 and its 200-day simple moving average is C$11.84. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 40.03.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings results on Monday, February 23rd. The company reported C$0.26 EPS for the quarter. The firm had revenue of C$1.51 billion during the quarter. Whitecap Resources had a return on equity of 10.14% and a net margin of 18.38%. As a group, analysts forecast that Whitecap Resources Inc. will post 1.1226131 EPS for the current fiscal year.

Whitecap Resources Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 16th were paid a $0.0608 dividend. The ex-dividend date was Friday, February 27th. This represents a c) annualized dividend and a yield of 4.7%. 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.