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. Whitecap Resources had a return on equity of 7.70% and a net margin of 13.32%.The firm had revenue of C$2.35 billion during the quarter.

Whitecap Resources Stock Performance

Shares of TSE:WCP traded up C$0.42 during trading on Wednesday, reaching C$16.02. The stock had a trading volume of 4,515,844 shares, compared to its average volume of 6,323,278. Whitecap Resources has a 52 week low of C$9.79 and a 52 week high of C$17.34. The firm has a market capitalization of C$19.47 billion, a price-to-earnings ratio of 21.95, a P/E/G ratio of -0.33 and a beta of 0.18. 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 stock has a fifty day simple moving average of C$15.85 and a two-hundred day simple moving average of C$14.64.

Whitecap Resources Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.0608 per share. This represents a c) annualized dividend and a yield of 4.6%. The ex-dividend date is Friday, July 31st. Whitecap Resources’s dividend payout ratio (DPR) is 99.95%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. ATB Cormark Capital Markets increased their price target on shares of Whitecap Resources from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. National Bank Financial boosted their price objective on shares of 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. TD boosted their price objective on shares of Whitecap Resources from C$17.00 to C$18.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Raymond James Financial upped 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 research note on Thursday, April 30th. Finally, Scotia increased their target price on shares of Whitecap Resources from C$17.00 to C$19.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 30th. Three equities research 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, Whitecap Resources has an average rating of “Buy” and a consensus price target of C$18.55.

Insider Buying and Selling

In other news, insider Travis Bjarne Tweit bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average price of C$15.48 per share, for a total transaction of C$46,440.00. Following the acquisition, the insider directly owned 230,204 shares of the company’s stock, valued at C$3,563,557.92. The trade was a 1.32% increase in their position. Also, insider Joseph Adam Wong bought 7,500 shares of the business’s stock in a transaction on Monday, July 6th. The shares were purchased at an average cost of C$14.46 per share, with a total value of C$108,450.00. Following the transaction, the insider owned 111,416 shares in the company, valued at approximately C$1,611,075.36. The trade was a 7.22% increase in their ownership of the stock. In the last three months, insiders bought 31,500 shares of company stock valued at $481,010. Company insiders own 0.84% of the company’s stock.

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.