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Whitecap Resources

DB:J6I
Snowflake Description

Reasonable growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
J6I
DB
CA$2B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Whitecap Resources Inc. acquires and develops petroleum and natural gas properties in Canada. The last earnings update was 20 days ago. More info.


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J6I Share Price and Events
7 Day Returns
-3%
DB:J6I
2%
DE Oil and Gas
0.3%
DE Market
1 Year Returns
-50.8%
DB:J6I
14.1%
DE Oil and Gas
-11.6%
DE Market
J6I Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Whitecap Resources (J6I) -3% -9.2% 0.9% -50.8% -50.1% -66.7%
DE Oil and Gas 2% 5% 10.3% 14.1% 17.4% 64.8%
DE Market 0.3% -3.8% 2.5% -11.6% 10.1% 7.9%
1 Year Return vs Industry and Market
  • J6I underperformed the Oil and Gas industry which returned 14.1% over the past year.
  • J6I underperformed the Market in Germany which returned -11.6% over the past year.
Price Volatility
J6I
Industry
5yr Volatility vs Market

J6I Value

 Is Whitecap Resources undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Whitecap Resources to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Whitecap Resources.

DB:J6I Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:J6I
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.915 (1 + (1- 26.5%) (64.12%))
1.232
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.23
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.232 * 5.96%)
7.57%

Discounted Cash Flow Calculation for DB:J6I using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Whitecap Resources is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:J6I DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 7.57%)
2019 113.83 Analyst x4 105.81
2020 118.95 Analyst x2 102.79
2021 260.00 Analyst x1 208.87
2022 248.00 Analyst x1 185.21
2023 239.96 Est @ -3.24% 166.59
2024 234.68 Est @ -2.2% 151.46
2025 231.23 Est @ -1.47% 138.73
2026 229.00 Est @ -0.96% 127.72
2027 227.62 Est @ -0.6% 118.02
2028 226.81 Est @ -0.36% 109.32
Present value of next 10 years cash flows CA$1,414.54
DB:J6I DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$226.81 × (1 + 0.23%) ÷ (7.57% – 0.23%)
CA$3,095.72
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$3,095.72 ÷ (1 + 7.57%)10
CA$1,492.09
DB:J6I Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$1,414.54 + CA$1,492.09
CA$2,906.63
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$2,906.63 / 413.16
CA$7.04
DB:J6I Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:J6I represents 0.64844x of TSX:WCP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.64844x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 7.04 x 0.64844
€4.56
Value per share (EUR) From above. €4.56
Current discount Discount to share price of €3.32
= -1 x (€3.32 - €4.56) / €4.56
27.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Whitecap Resources is available for.
Intrinsic value
27%
Share price is €3.32 vs Future cash flow value of €4.56
Current Discount Checks
For Whitecap Resources to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Whitecap Resources's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Whitecap Resources's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Whitecap Resources's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Whitecap Resources's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:J6I PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$0.05
TSX:WCP Share Price ** TSX (2019-05-21) in CAD CA$5.12
Germany Oil and Gas Industry PE Ratio Median Figure of 5 Publicly-Listed Oil and Gas Companies 9.16x
Germany Market PE Ratio Median Figure of 423 Publicly-Listed Companies 20.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Whitecap Resources.

DB:J6I PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:WCP Share Price ÷ EPS (both in CAD)

= 5.12 ÷ 0.05

104.81x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whitecap Resources is overvalued based on earnings compared to the DE Oil and Gas industry average.
  • Whitecap Resources is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Whitecap Resources's expected growth come at a high price?
Raw Data
DB:J6I PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 104.81x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
104.8%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 59 Publicly-Listed Oil and Gas Companies 0.97x
Germany Market PEG Ratio Median Figure of 272 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

DB:J6I PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 104.81x ÷ 104.8%

1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whitecap Resources is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Whitecap Resources's assets?
Raw Data
DB:J6I PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$7.62
TSX:WCP Share Price * TSX (2019-05-21) in CAD CA$5.12
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.05x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.79x
DB:J6I PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:WCP Share Price ÷ Book Value per Share (both in CAD)

= 5.12 ÷ 7.62

0.67x

* Primary Listing of Whitecap Resources.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whitecap Resources is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Whitecap Resources's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Whitecap Resources has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

J6I Future Performance

 How is Whitecap Resources expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
104.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Whitecap Resources expected to grow at an attractive rate?
  • Whitecap Resources's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Whitecap Resources's earnings growth is expected to exceed the Germany market average.
  • Whitecap Resources's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:J6I Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:J6I Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 104.8%
DB:J6I Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 11%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 7%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:J6I Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:J6I Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 939
2021-12-31 998
2020-12-31 1,551 824 220 4
2019-12-31 1,415 711 93 4
DB:J6I Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,257 707 20
2018-12-31 1,257 728 65
2018-09-30 1,262 697 -174
2018-06-30 1,098 611 -239
2018-03-31 956 532 -191
2017-12-31 866 489 -124
2017-09-30 796 461 299
2017-06-30 744 450 302
2017-03-31 653 397 229
2016-12-31 544 365 171
2016-09-30 495 381 -107
2016-06-30 479 417 -489

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Whitecap Resources's earnings are expected to grow significantly at over 20% yearly.
  • Whitecap Resources's revenue is expected to grow by 11% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:J6I Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Whitecap Resources Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:J6I Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 0.49 0.64 0.37 6.00
2019-12-31 0.20 0.32 0.10 7.00
DB:J6I Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 0.05
2018-12-31 0.16
2018-09-30 -0.43
2018-06-30 -0.60
2018-03-31 -0.50
2017-12-31 -0.33
2017-09-30 0.81
2017-06-30 0.82
2017-03-31 0.64
2016-12-31 0.50
2016-09-30 -0.33
2016-06-30 -1.64

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Whitecap Resources will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Whitecap Resources's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Whitecap Resources has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

J6I Past Performance

  How has Whitecap Resources performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Whitecap Resources's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Whitecap Resources's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Whitecap Resources has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Whitecap Resources has become profitable in the last year making it difficult to compare the Europe Oil and Gas industry average.
Earnings and Revenue History
Whitecap Resources's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Whitecap Resources Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:J6I Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,256.67 20.32 39.78
2018-12-31 1,257.21 65.13 42.47
2018-09-30 1,261.69 -173.57 49.99
2018-06-30 1,098.23 -239.41 49.23
2018-03-31 956.27 -191.25 47.54
2017-12-31 866.38 -123.97 44.69
2017-09-30 796.05 298.87 40.24
2017-06-30 743.53 301.53 39.53
2017-03-31 653.25 228.67 37.08
2016-12-31 544.45 170.75 38.51
2016-09-30 494.87 -107.44 42.13
2016-06-30 478.90 -489.43 41.87
2016-03-31 522.14 -469.71 43.69
2015-12-31 539.57 -500.71 44.41
2015-09-30 581.37 -247.51 41.71
2015-06-30 641.26 215.57 38.53
2015-03-31 666.95 419.20 33.11
2014-12-31 706.80 453.14 24.88
2014-09-30 634.53 285.56 22.29
2014-06-30 560.52 214.28 20.66
2014-03-31 465.05 39.38 18.78
2013-12-31 399.35 40.43 17.42
2013-09-30 385.20 49.48 16.41
2013-06-30 340.85 43.99 15.20
2013-03-31 309.71 50.38 14.62
2012-12-31 270.71 52.47 13.11
2012-09-30 230.95 48.12 10.82
2012-06-30 187.93 47.51 8.33

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whitecap Resources has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Whitecap Resources used its assets less efficiently than the DE Oil and Gas industry average last year based on Return on Assets.
  • Whitecap Resources has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Whitecap Resources's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Whitecap Resources has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

J6I Health

 How is Whitecap Resources's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Whitecap Resources's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Whitecap Resources's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Whitecap Resources's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Whitecap Resources's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Whitecap Resources Company Filings, last reported 1 month ago.

DB:J6I Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 3,147.49 1,345.78 10.16
2018-12-31 3,229.57 1,255.70 11.26
2018-09-30 3,287.25 1,240.82 17.64
2018-06-30 3,254.43 1,281.84 10.96
2018-03-31 3,290.28 1,334.68 10.86
2017-12-31 3,333.13 1,285.64 10.98
2017-09-30 3,178.06 804.55 10.72
2017-06-30 3,195.72 766.01 7.76
2017-03-31 3,172.68 798.04 7.93
2016-12-31 3,132.19 782.20 9.03
2016-09-30 2,965.06 806.96 9.28
2016-06-30 2,977.77 847.58 8.26
2016-03-31 2,569.27 769.35 8.25
2015-12-31 2,506.62 891.61 7.95
2015-09-30 2,639.93 800.07 9.38
2015-06-30 3,063.28 748.99 7.38
2015-03-31 2,471.23 819.94 3.95
2014-12-31 2,534.08 765.11 10.46
2014-09-30 2,290.52 715.37 7.50
2014-06-30 2,243.29 730.48 4.60
2014-03-31 1,601.39 451.37 2.08
2013-12-31 1,281.76 386.10 2.71
2013-09-30 1,243.57 387.25 10.97
2013-06-30 1,085.07 369.68 20.02
2013-03-31 913.37 335.90 2.12
2012-12-31 910.09 310.70 1.98
2012-09-30 897.74 343.68 2.71
2012-06-30 885.61 325.35 2.29
  • Whitecap Resources's level of debt (42.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (28.3% vs 42.8% today).
  • Debt is well covered by operating cash flow (52.6%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Whitecap Resources's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Whitecap Resources has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

J6I Dividends

 What is Whitecap Resources's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.68%
Current annual income from Whitecap Resources dividends. Estimated to be 6.6% next year.
If you bought €2,000 of Whitecap Resources shares you are expected to receive €134 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Whitecap Resources's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Whitecap Resources's dividend is above the markets top 25% of dividend payers in Germany (3.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:J6I Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 60 Stocks 5.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:J6I Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.34 1.00
2021-12-31 0.34 1.00
2020-12-31 0.34 10.00
2019-12-31 0.33 10.00
DB:J6I Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-05-01 0.342 6.656
2019-04-15 0.324 5.803
2019-03-14 0.324 6.620
2019-02-14 0.324 6.988
2019-01-15 0.324 7.269
2018-12-13 0.324 7.429
2018-11-15 0.324 6.715
2018-10-15 0.324 5.105
2018-09-13 0.324 4.152
2018-08-15 0.324 3.962
2018-07-16 0.324 3.712
2018-06-14 0.324 3.670
2018-05-16 0.308 3.359
2018-04-16 0.308 3.344
2018-03-15 0.308 3.854
2018-02-15 0.308 3.945
2018-01-15 0.308 3.441
2017-12-14 0.308 3.426
2017-11-15 0.280 3.189
2017-10-16 0.280 3.051
2017-09-14 0.280 2.961
2017-08-15 0.280 3.116
2017-07-13 0.280 3.032
2017-06-15 0.280 3.076
2017-05-15 0.280 2.924
2017-04-13 0.280 2.861
2017-03-15 0.280 2.734
2017-02-15 0.280 2.601
2017-01-16 0.280 2.594
2016-12-15 0.280 2.340
2016-11-15 0.280 2.403
2016-10-13 0.280 2.525
2016-09-15 0.280 2.613
2016-08-15 0.280 2.739
2016-07-14 0.280 2.816
2016-06-15 0.280 2.825
2016-05-16 0.280 2.774
2016-04-11 0.280 2.961
2016-03-15 0.450 5.697
2016-01-19 0.450 6.231
2016-01-14 0.750 11.107
2015-12-15 0.750 8.839
2015-11-16 0.750 6.962
2015-10-15 0.750 6.235
2015-09-15 0.750 6.408
2015-08-13 0.750 6.963
2015-07-15 0.750 6.592
2015-06-15 0.750 5.789
2015-05-14 0.750 5.470
2015-04-16 0.750 5.111
2015-03-16 0.750 5.204
2015-02-17 0.750 5.522
2015-01-15 0.750 6.141
2014-12-15 0.750 6.832
2014-11-17 0.750 6.209
2014-10-15 0.750 5.058
2014-09-15 0.750 4.755
2014-08-14 0.750 4.254
2014-07-16 0.750 4.642
2014-06-16 0.750 4.642
2014-05-02 0.750 5.003
2014-04-15 0.680 4.765
2014-03-17 0.680 5.359
2014-02-18 0.680 5.747
2013-11-21 0.680 5.552
2013-11-14 0.630 5.297
2013-10-16 0.630 5.174
2013-09-12 0.600 5.021
2013-08-15 0.600 5.315
2013-07-15 0.600 5.375
2013-06-13 0.600 5.647
2013-05-15 0.600 5.596
2013-04-16 0.600 5.943
2013-03-14 0.600 6.206
2013-02-14 0.600 6.673
2013-01-08 0.600 6.514

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Whitecap Resources has been paying a dividend for less than 10 years.
  • Whitecap Resources has only been paying a dividend for 6 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Whitecap Resources's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Whitecap Resources's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Whitecap Resources afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Whitecap Resources has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

J6I Management

 What is the CEO of Whitecap Resources's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Grant Fagerheim
COMPENSATION CA$3,553,306
AGE 59
TENURE AS CEO 10.9 years
CEO Bio

Mr. Grant Bradley Fagerheim has been the Chairman, Chief Executive Officer and President of Whitecap Resources Inc. since June 2008. Mr. Fagerheim has 30 years of diverse experience in both the upstream and downstream areas of the oil and gas business. He served as the President and Chief Executive Officer of Ketch Resources Ltd., an Administrator of Ketch Resources Trust from October 2002 to January 2005. He served as the President and Chief Executive Officer of Cadence Energy Inc. (formerly, Barrick Energy Inc. and Kereco Energy Ltd.) from January 2005 to September 2008 and Ketch Energy Ltd., from April 2000 to October 2002. He served as the Chief Operating Officer, Senior Vice President and Vice President Business Development and Marketing of Northrock Resources Ltd., from April 1996 to December 1999. He served as a Vice President of Exploration and Land at Sceptre Resources Ltd. from May 1994 to April 1996. He served as the Chairman of Ketch Resources Ltd. He has been a Director at Whitecap Resources Inc. since June 2008. He serves as a Director of the Canadian Association of Petroleum Landmen and a Member of Young President Organization. He has been an Independent Director of Advantage Oil & Gas Ltd. since May 26, 2014. He serves as an Independent Director of Escavar Energy, Inc. He serves as a Director of the National Sports Development facility and the Canadian Hockey Foundation. He served as a Director of Cadence Energy Inc. (formerly, Barrick Energy Inc.) since January 2005 until September 2008. He served as an Independent Director of IROC Energy Services Corp. (also known as IROC Systems Corp) from June 21, 2005 to February 6, 2010. He served as a Director of Advantage Oil & Gas Ltd., (AOG) since June 2006 and Ketch Energy Ltd. from April 2000 to October 2002. Mr. Fagerheim was formerly a director of The Resort at Copper Point Ltd. He served as an Independent Director of Sintana Energy Inc. (formerly Drift Lake Resources Inc.) from September 21, 2011 to January 2, 2014. He served as an Independent Director of PRD Energy Inc. from 2007 to September 24, 2015. He served as a Director of Invico Capital Corp., Advantage Energy Income Fund and Ketch Resources Trust. He served as a Director of Acclaim Energy Trust and Canetic Resources Trust from October 1, 2002 to December 31, 2004. He is an Owner of the National Sports Development facility. Mr. Fagerheim founded Ketch Energy Ltd. in April 2000 and Ketch Resources Ltd. in October 2002. He serves as the Chairman of the Edge School for Athletes. He is Governor of the Canadian Association of Petroleum Producers. Mr. Fagerheim received his Bachelor's Degree in Education (Economics Minor) from the University of Calgary in 1983 and an Executive MBA degree from Queen's University in 1995.

CEO Compensation
  • Grant's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Grant's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Whitecap Resources management team in years:

9.7
Average Tenure
54
Average Age
  • The average tenure for the Whitecap Resources management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Grant Fagerheim

TITLE
President
COMPENSATION
CA$4M
AGE
59
TENURE
10.9 yrs

Thanh Kang

TITLE
Chief Financial Officer
COMPENSATION
CA$2M
AGE
39
TENURE
9.7 yrs

Joel Armstrong

TITLE
Vice President of Production & Operations
COMPENSATION
CA$2M
AGE
51
TENURE
9 yrs

Dan Christensen

TITLE
Vice President of Exploration
COMPENSATION
CA$192K
AGE
57
TENURE
9.7 yrs

Jeff Zdunich

TITLE
VP of Finance & Controller
TENURE
8.2 yrs
Board of Directors Tenure

Average tenure and age of the Whitecap Resources board of directors in years:

8.7
Average Tenure
61.5
Average Age
  • The tenure for the Whitecap Resources board of directors is about average.
Board of Directors

Ken Stickland

TITLE
Chairman of the Board
COMPENSATION
CA$180K
AGE
64

Grant Fagerheim

TITLE
President
COMPENSATION
CA$4M
AGE
59
TENURE
10.9 yrs

Steve Nikiforuk

TITLE
Independent Director
COMPENSATION
CA$166K
AGE
49
TENURE
9.8 yrs

Glenn McNamara

TITLE
Director
COMPENSATION
CA$172K
AGE
65
TENURE
8.7 yrs

Daryl Gilbert

TITLE
Independent Director
COMPENSATION
CA$166K
AGE
66
TENURE
3.8 yrs

Grant Zawalsky

TITLE
Independent Director
COMPENSATION
CA$160K
AGE
58
TENURE
10.9 yrs

Greg Fletcher

TITLE
Independent Director
COMPENSATION
CA$160K
AGE
70
TENURE
8.7 yrs

Heather Culbert

TITLE
Director
COMPENSATION
CA$160K
AGE
58
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Whitecap Resources insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
06. May 19 Buy Thanh Kang Individual 06. May 19 06. May 19 5,520 €3.37 €18,619
17. Apr 19 Buy Grant Fagerheim Individual 17. Apr 19 17. Apr 19 10,000 €3.68 €36,761
03. Apr 19 Buy Joel Armstrong Individual 03. Apr 19 03. Apr 19 10,000 €3.11 €31,054
02. Apr 19 Buy Thanh Kang Individual 02. Apr 19 02. Apr 19 10,000 €3.14 €31,443
28. Mar 19 Buy Grant Fagerheim Individual 28. Mar 19 28. Mar 19 20,000 €3.10 €62,001
08. Mar 19 Buy Glenn McNamara Individual 08. Mar 19 08. Mar 19 7,000 €2.84 €19,894
08. Mar 19 Buy Stephen Nikiforuk Individual 08. Mar 19 08. Mar 19 3,450 €2.85 €9,824
07. Mar 19 Buy Glenn McNamara Individual 07. Mar 19 07. Mar 19 2,500 €3.02 €7,542
07. Mar 19 Buy Stephen Nikiforuk Individual 07. Mar 19 07. Mar 19 16,950 €2.93 €49,676
07. Mar 19 Buy Kenneth Stickland Individual 07. Mar 19 07. Mar 19 15,000 €2.98 €44,756
05. Mar 19 Buy Jeffrey Zdunich Individual 05. Mar 19 05. Mar 19 10,000 €2.98 €29,843
15. Jan 19 Buy Joel Armstrong Individual 14. Jan 19 14. Jan 19 6,780 €3.10 €21,051
07. Jan 19 Buy Grant Fagerheim Individual 07. Jan 19 07. Jan 19 2,025 €3.10 €6,277
28. Dec 18 Buy Grant Fagerheim Individual 27. Dec 18 28. Dec 18 12,967 €2.66 €34,413
27. Dec 18 Buy Grant Fagerheim Individual 24. Dec 18 24. Dec 18 17,233 €2.54 €43,803
22. Dec 18 Buy Darin Dunlop Individual 21. Dec 18 21. Dec 18 37,500 €2.59 €96,958
22. Dec 18 Buy Joel Armstrong Individual 21. Dec 18 21. Dec 18 15,000 €2.57 €38,589
22. Dec 18 Buy Thanh Kang Individual 21. Dec 18 21. Dec 18 7,100 €2.62 €18,587
22. Dec 18 Buy Grant Fagerheim Individual 21. Dec 18 21. Dec 18 10,000 €2.66 €26,567
20. Nov 18 Buy Jeffrey Zdunich Individual 20. Nov 18 20. Nov 18 5,000 €3.39 €16,926
05. Nov 18 Sell Grant Fagerheim Individual 05. Nov 18 05. Nov 18 -16,083 €4.28 €-68,638
17. Oct 18 Buy Gregory Fletcher Individual 17. Oct 18 17. Oct 18 3,000 €4.62 €13,875
18. Oct 18 Buy Darin Dunlop Individual 18. Oct 18 18. Oct 18 15,000 €4.55 €68,237
16. Oct 18 Buy David Mombourquette Individual 16. Oct 18 16. Oct 18 15,000 €4.68 €70,191
10. Oct 18 Buy Gregory Fletcher Individual 10. Oct 18 10. Oct 18 3,000 €4.90 €14,699
01. Sep 18 Buy Grant Fagerheim Individual 31. Aug 18 31. Aug 18 30,000 €5.36 €160,700
30. Aug 18 Buy Thanh Kang Individual 30. Aug 18 30. Aug 18 2,050 €5.42 €11,097
19. Jul 18 Buy Grant Fagerheim Individual 19. Jul 18 19. Jul 18 15,000 €5.76 €86,466
11. Jun 18 Buy Jeffrey Zdunich Individual 11. Jun 18 11. Jun 18 5,000 €5.62 €28,106
07. Jun 18 Buy Joel Armstrong Individual 07. Jun 18 07. Jun 18 5,650 €5.77 €32,594
05. Jun 18 Buy Thanh Kang Individual 04. Jun 18 04. Jun 18 50 €5.80 €290
04. Jun 18 Buy Thanh Kang Individual 04. Jun 18 04. Jun 18 4,975 €5.82 €28,949
04. Jun 18 Buy Grant Fagerheim Individual 04. Jun 18 04. Jun 18 12,000 €5.82 €69,827
X
Management checks
We assess Whitecap Resources's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Whitecap Resources has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

J6I News

Simply Wall St News

J6I Company Info

Description

Whitecap Resources Inc. acquires and develops petroleum and natural gas properties in Canada. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southeast Saskatchewan. Whitecap Resources Inc. is headquartered in Calgary, Canada.

Details
Name: Whitecap Resources Inc.
J6I
Exchange: DB
Founded:
CA$1,400,845,518
413,158,293
Website: http://www.wcap.ca
Address: Whitecap Resources Inc.
525 – 8th Avenue South West,
Suite 3800,
Calgary,
Alberta, T2P 1G1,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX WCP Common Shares The Toronto Stock Exchange CA CAD 28. Jun 2010
OTCPK SPGY.F Common Shares Pink Sheets LLC US USD 28. Jun 2010
DB J6I Common Shares Deutsche Boerse AG DE EUR 28. Jun 2010
Number of employees
Current staff
Staff numbers
269
Whitecap Resources employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 21:50
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/05/01
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.