Whitecap Resources (TSE:WCP) Issues Earnings Results, Misses Expectations By $0.14 EPS

Whitecap Resources (TSE:WCP) issued its earnings results on Wednesday. The company reported C$0.10 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.14), reports. The business had revenue of C$933.30 million for the quarter, compared to the consensus estimate 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 Down 0.9 %

Shares of TSE:WCP opened at C$10.77 on Friday. The firm has a market capitalization of C$6.44 billion, a P/E ratio of 7.38, a price-to-earnings-growth ratio of -0.33 and a beta of 2.81. The firm has a fifty day moving average of C$10.00 and a two-hundred day moving average of C$9.64. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 25.25. Whitecap Resources has a 12-month low of C$8.15 and a 12-month high of C$11.91.

Whitecap Resources Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.0608 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date is Monday, April 29th. Whitecap Resources’s dividend payout ratio (DPR) is currently 44.52%.

Insider Activity

In other Whitecap Resources news, Director Grant Bradley Fagerheim purchased 5,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were acquired at an average price of C$10.58 per share, for a total transaction of C$52,900.00. 0.74% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Desjardins raised their target price on shares of Whitecap Resources from C$11.00 to C$11.50 and gave the stock a “buy” rating in a report on Friday, February 23rd. ATB Capital reduced their target price on shares of Whitecap Resources from C$15.50 to C$15.00 in a report on Thursday, February 22nd. Stifel Nicolaus raised their target price on shares of Whitecap Resources from C$12.75 to C$13.75 and gave the stock a “buy” rating in a report on Tuesday. Canaccord Genuity Group raised their price objective on shares of Whitecap Resources from C$14.00 to C$14.50 and gave the stock a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada raised their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$13.56.

About Whitecap Resources

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.