Whitecap Resources (TSE:WCP) Announces Quarterly Earnings Results

Whitecap Resources (TSE:WCP) released its quarterly earnings results on Wednesday. The company reported C$0.02 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$1.84 billion during the quarter. Whitecap Resources had a return on equity of 10.14% and a net margin of 18.38%.

Whitecap Resources Price Performance

WCP stock opened at C$16.02 on Thursday. Whitecap Resources has a 52-week low of C$7.55 and a 52-week high of C$16.05. The stock’s fifty day simple moving average is C$14.49 and its 200-day simple moving average is C$12.54. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 40.03. The stock has a market capitalization of C$19.45 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of -0.33 and a beta of 0.27.

Whitecap Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.0608 per share. The ex-dividend date is Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 4.6%. Whitecap Resources’s dividend payout ratio (DPR) is 73.70%.

Wall Street Analyst Weigh In

WCP has been the subject of several recent research reports. ATB Cormark Capital Markets raised their price target on Whitecap Resources from C$13.00 to C$15.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, February 24th. National Bank Financial raised their price target on Whitecap Resources from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. BMO Capital Markets raised their price target on Whitecap Resources from C$13.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Canaccord Genuity Group raised their price target on Whitecap Resources from C$14.00 to C$15.50 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Finally, Raymond James Financial downgraded Whitecap Resources from a “strong-buy” rating to a “moderate buy” rating and raised their price target for the stock from C$15.00 to C$16.00 in a research report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$15.50.

Insider Activity

In other news, Director Grant Bradley Fagerheim sold 5,000 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of C$13.76, for a total transaction of C$68,800.00. Following the sale, the director owned 3,278,099 shares in the company, valued at C$45,106,642.24. This trade represents a 0.15% decrease in their ownership of the stock. Insiders sold a total of 6,100 shares of company stock worth $83,826 in the last 90 days. 0.84% of the stock is owned by company insiders.

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.