Whitecap Resources (TSE:WCP) Announces Earnings Results

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

Whitecap Resources Stock Performance

TSE WCP opened at C$16.46 on Friday. The stock has a market capitalization of C$20.01 billion, a PE ratio of 22.55, a P/E/G ratio of -0.33 and a beta of 0.18. The business has a 50 day simple moving average of C$15.83 and a two-hundred day simple moving average of C$14.72. The company has a debt-to-equity ratio of 33.01, a current ratio of 0.54 and a quick ratio of 0.67. Whitecap Resources has a 1-year low of C$9.79 and a 1-year high of C$17.34.

Whitecap Resources Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be paid a dividend of $0.0608 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 4.4%. Whitecap Resources’s dividend payout ratio is presently 99.95%.

Analysts Set New Price Targets

Several brokerages recently issued reports on WCP. National Bank Financial lifted their target price on Whitecap Resources from C$25.00 to C$26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Scotia upped their price target on Whitecap Resources from C$17.00 to C$19.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 30th. Royal Bank Of Canada increased their price objective on shares of Whitecap Resources from C$18.00 to C$20.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Desjardins set a C$22.00 price objective on shares of Whitecap Resources and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, ATB Cormark Capital Markets boosted their target price on shares of Whitecap Resources from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$18.55.

Insider Activity

In other Whitecap Resources news, insider Joseph Adam Wong bought 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was purchased at an average cost of C$14.46 per share, with a total value of C$108,450.00. Following the completion of the acquisition, the insider owned 111,416 shares in the company, valued at C$1,611,075.36. This trade represents a 7.22% increase in their position. Also, Director Grant Bradley Fagerheim purchased 10,000 shares of Whitecap Resources stock in a transaction that occurred on Monday, July 6th. The stock was 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 of the company’s stock, valued at C$47,835,111.54. The trade was a 0.30% increase in their position. In the last ninety days, insiders bought 31,500 shares of company stock worth $481,010. 0.84% of the stock is currently owned by insiders.

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.