Whitecap Resources (TSE:WCP) Issues Earnings Results

Whitecap Resources (TSE:WCP) released its quarterly earnings results on Wednesday. The company reported C$0.10 EPS for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.14), reports. Whitecap Resources had a return on equity of 16.89% and a net margin of 27.52%. The firm had revenue of C$933.30 million for the quarter, compared to analyst estimates of C$787.00 million.

Whitecap Resources Stock Down 0.9 %

Whitecap Resources stock opened at C$10.77 on Friday. Whitecap Resources has a 1-year low of C$8.15 and a 1-year high of C$11.91. The company has a debt-to-equity ratio of 25.25, a current ratio of 0.90 and a quick ratio of 0.67. The stock has a market cap of C$6.44 billion, a PE ratio of 7.38, a P/E/G ratio of -0.33 and a beta of 2.81. The stock’s fifty day moving average is C$10.00 and its two-hundred day moving average is C$9.64.

Whitecap Resources Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.0608 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date is Monday, April 29th. Whitecap Resources’s dividend payout ratio is presently 44.52%.

Analysts Set New Price Targets

A number of research firms have commented on WCP. CIBC upped their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Desjardins upped their price target on Whitecap Resources from C$11.00 to C$11.50 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Royal Bank of Canada increased their price objective on Whitecap Resources from C$13.00 to C$14.00 and gave the company an “outperform” rating in a research note on Thursday. ATB Capital reduced their price objective on Whitecap Resources from C$15.50 to C$15.00 in a research note on Thursday, February 22nd. Finally, Canaccord Genuity Group increased their price objective on Whitecap Resources from C$14.00 to C$14.50 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Whitecap Resources presently has an average rating of “Buy” and an average price target of C$13.56.

Insider Buying and Selling at Whitecap Resources

In other news, Director Grant Bradley Fagerheim acquired 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The shares were bought at an average price of C$10.58 per share, with a total value of C$52,900.00. 0.74% of the stock is owned by insiders.

About Whitecap Resources

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.