Whitecap Resources (TSE:WCP) Releases Quarterly Earnings Results

Whitecap Resources (TSE:WCP) posted its quarterly earnings data on Wednesday. The company reported C$0.73 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$2.35 billion during the quarter. Whitecap Resources had a return on equity of 7.70% and a net margin of 13.32%.

Whitecap Resources Stock Up 2.7%

Shares of TSE:WCP opened at C$16.02 on Thursday. Whitecap Resources has a fifty-two week low of C$9.79 and a fifty-two week high of C$17.34. The company has a quick ratio of 0.67, a current ratio of 0.54 and a debt-to-equity ratio of 33.01. The firm’s 50-day simple moving average is C$15.84 and its 200-day simple moving average is C$14.68. The company has a market cap of C$19.47 billion, a price-to-earnings ratio of 21.95, a PEG ratio of -0.33 and a beta of 0.18.

Whitecap Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be issued a $0.0608 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 4.6%. Whitecap Resources’s payout ratio is presently 99.95%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD increased their price target on shares of Whitecap Resources from C$17.00 to C$18.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Royal Bank Of Canada increased their target price on shares of Whitecap Resources from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. ATB Cormark Capital Markets raised their price target on Whitecap Resources from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a report on Thursday, April 30th. National Bank Financial boosted their price target on 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. Finally, Desjardins set a C$22.00 price objective on Whitecap Resources and gave the company a “buy” rating in a research note on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$18.55.

Insider Activity at Whitecap Resources

In other news, insider Joseph Adam Wong acquired 7,500 shares of Whitecap Resources stock in a transaction that occurred on Monday, July 6th. The stock was purchased at an average price of C$14.46 per share, for a total transaction of C$108,450.00. Following the completion of the transaction, the insider directly owned 111,416 shares in the company, valued at approximately C$1,611,075.36. This trade represents a 7.22% increase in their ownership of the stock. Also, Director Grant Bradley Fagerheim bought 10,000 shares of the company’s stock in a transaction on Monday, July 6th. The shares were acquired at an average price of C$14.46 per share, for a total transaction of C$144,600.00. Following the transaction, the director directly owned 3,308,099 shares in the company, valued at C$47,835,111.54. This trade represents a 0.30% increase in their position. Insiders bought a total of 31,500 shares of company stock worth $481,010 over the last 90 days. Company insiders own 0.84% of the company’s stock.

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.