Whitecap Resources (TSE:WCP) Issues Quarterly Earnings Results

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

Whitecap Resources Trading Up 1.1 %

Shares of WCP opened at C$10.87 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 50-day moving average of C$9.96 and a 200 day moving average of C$9.63. The firm has a market capitalization of C$6.50 billion, a price-to-earnings ratio of 7.45, a PEG ratio of -0.33 and a beta of 2.81. The company has a debt-to-equity ratio of 25.25, a current ratio of 0.90 and a quick ratio of 0.67.

Whitecap Resources Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.0608 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.73 annualized dividend and a dividend yield of 6.71%. Whitecap Resources’s dividend payout ratio (DPR) is presently 44.52%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WCP shares. BMO Capital Markets increased their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 in a research note on Thursday. National Bankshares cut their target price on shares of Whitecap Resources from C$18.50 to C$15.00 and set an “outperform” rating for the company in a research note on Wednesday, January 10th. Stifel Nicolaus raised their target price on shares of Whitecap Resources from C$12.75 to C$13.75 and gave the company a “buy” rating in a research note on Tuesday. Desjardins raised their target price on shares of Whitecap Resources from C$11.00 to C$11.50 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, CIBC raised their target price on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research note on Monday. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$13.56.

Insider Activity at Whitecap Resources

In related news, Director Grant Bradley Fagerheim acquired 3,723 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was bought at an average price of C$8.17 per share, for a total transaction of C$30,416.91. 0.74% of the stock is currently owned by company insiders.

Whitecap Resources Company Profile

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.