Whitecap Resources

WCP-T

Analysis and Opinions about WCP-T

Signal
Opinion
Expert
COMMENT
COMMENT
January 5, 2018

This has become the "go to" mid-cap name. They have very good support from a few US institutional investors. They used the downturn to acquire different assets. Has a business model that, for the next couple of years, should allow them to grow at above peer average, pay an above peer average dividend, and maintain a very strong balance sheet.

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This has become the "go to" mid-cap name. They have very good support from a few US institutional investors. They used the downturn to acquire different assets. Has a business model that, for the next couple of years, should allow them to grow at above peer average, pay an above peer average dividend, and maintain a very strong balance sheet.

COMMENT
COMMENT
November 17, 2017

The chart shows a gentle downtrend channel from the beginning of the year, and it has made a couple of bottoms. Started to find its legs about mid year, went up, came back and tested it again. He would like to see it get above $9.75, in order to get a quick acceleration to about $12, where you are going to start to run into some resistance. This looks reasonably positive. Also, some indicators are starting to turn up. You have some nice tailwinds.

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Whitecap Resources (WCP-T)
November 17, 2017

The chart shows a gentle downtrend channel from the beginning of the year, and it has made a couple of bottoms. Started to find its legs about mid year, went up, came back and tested it again. He would like to see it get above $9.75, in order to get a quick acceleration to about $12, where you are going to start to run into some resistance. This looks reasonably positive. Also, some indicators are starting to turn up. You have some nice tailwinds.

COMMENT
COMMENT
November 7, 2017

Her view on energy is that it will continue to do well until the Saudi Aramco deal gets done. After that, all bets are off. She is quite happy to own oil stocks until then. This company has a really nice dividend. She has owned this as a defensive name.

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Whitecap Resources (WCP-T)
November 7, 2017

Her view on energy is that it will continue to do well until the Saudi Aramco deal gets done. After that, all bets are off. She is quite happy to own oil stocks until then. This company has a really nice dividend. She has owned this as a defensive name.

BUY
BUY
September 28, 2017

He likes this one. It is not in his top 5 but the management team has done a good job. They have good production growth. He would buy at these prices.

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Whitecap Resources (WCP-T)
September 28, 2017

He likes this one. It is not in his top 5 but the management team has done a good job. They have good production growth. He would buy at these prices.

PAST TOP PICK
PAST TOP PICK
August 24, 2017

(Top Pick Apr 15/16, Up 4.31%) He decided to take a trade on this one in the spring for seasonality reasons. There is no money flow into oil stocks. You are not seeing any new energy ETFs coming out because nobody cares. He only has 3 energy stocks left.

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(Top Pick Apr 15/16, Up 4.31%) He decided to take a trade on this one in the spring for seasonality reasons. There is no money flow into oil stocks. You are not seeing any new energy ETFs coming out because nobody cares. He only has 3 energy stocks left.

WEAK BUY
WEAK BUY
August 10, 2017

WCP vs. FRU-T. He prefers Freehold. It is a safer way to play energy in these times. They put a great quarter out last night, raised their dividend. If oil went to $55-$60 you would make more money in WCP-T. FRU-T has a low payout ratio.

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WCP vs. FRU-T. He prefers Freehold. It is a safer way to play energy in these times. They put a great quarter out last night, raised their dividend. If oil went to $55-$60 you would make more money in WCP-T. FRU-T has a low payout ratio.

COMMENT
COMMENT
July 19, 2017

A good oil company. They’ve held up better than others. He would prefer Torque (?) or Spartan (SPE-T) based on valuations. The company just gave an update and are temporarily down in the low $40s, so he wouldn’t be looking for a dividend cut. At $50 oil, total return is probably 13 or 14. His preference would still be to go into some of the Permian guys.

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A good oil company. They’ve held up better than others. He would prefer Torque (?) or Spartan (SPE-T) based on valuations. The company just gave an update and are temporarily down in the low $40s, so he wouldn’t be looking for a dividend cut. At $50 oil, total return is probably 13 or 14. His preference would still be to go into some of the Permian guys.

COMMENT
COMMENT
June 7, 2017

This is one he has been looking at and one he would like to own. It has the 2nd lowest breakeven point for oil in Canada. At current prices, its payout ratio is around 80%, which is pretty good. A very, very well-managed company. Dividend yield of 2.9%. This is one you can seriously look at.

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This is one he has been looking at and one he would like to own. It has the 2nd lowest breakeven point for oil in Canada. At current prices, its payout ratio is around 80%, which is pretty good. A very, very well-managed company. Dividend yield of 2.9%. This is one you can seriously look at.

PAST TOP PICK
PAST TOP PICK
April 25, 2017

(A Top Pick Feb 10/17. Down 10.99%.) Loves the management team. Saskatchewan/Alberta with light oil. This is a dividend paying model where they can grow production 7%-10% a year. Pays about a 3% dividend, but all from the confines of cash flow. They are not taking on more debt to build the company. As the price of oil goes up, they’ll either do more acquisitions or they’ll raise the dividend again. Dividend yield of around 3%.

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(A Top Pick Feb 10/17. Down 10.99%.) Loves the management team. Saskatchewan/Alberta with light oil. This is a dividend paying model where they can grow production 7%-10% a year. Pays about a 3% dividend, but all from the confines of cash flow. They are not taking on more debt to build the company. As the price of oil goes up, they’ll either do more acquisitions or they’ll raise the dividend again. Dividend yield of around 3%.

TOP PICK
TOP PICK
April 25, 2017

Great assets and great management. A core holding in a dividend paying portfolio. A low-cost producer of light oil in Saskatchewan and Alberta. They aim to grow production 7%-10% per year. 2.9% dividend yield.

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Great assets and great management. A core holding in a dividend paying portfolio. A low-cost producer of light oil in Saskatchewan and Alberta. They aim to grow production 7%-10% per year. 2.9% dividend yield.

COMMENT
COMMENT
April 12, 2017

A very well-run company. His quarrel is that they have been paying out a dividend, and have to issue equity, diluting existing shareholders to grow the business. Hopefully, as energy prices gradually improve, which he believes they will, this will provide you with good returns. Right now, people are worried that they might buy Raging River (RRX-T). There are probably easier trades. (See Top Picks.)

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A very well-run company. His quarrel is that they have been paying out a dividend, and have to issue equity, diluting existing shareholders to grow the business. Hopefully, as energy prices gradually improve, which he believes they will, this will provide you with good returns. Right now, people are worried that they might buy Raging River (RRX-T). There are probably easier trades. (See Top Picks.)

COMMENT
COMMENT
March 30, 2017

It is a reasonable valuation and has reasonable book value. The problem is price momentum. The trend is lower.

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It is a reasonable valuation and has reasonable book value. The problem is price momentum. The trend is lower.

BUY
BUY
March 28, 2017

An excellent quality company. They can keep increasing dividends as oil prices stabilize. They have a lot of free cash flow. We have seen some pretty significant increases in production, all internally funded. It has done nothing so it has lots of upside.

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An excellent quality company. They can keep increasing dividends as oil prices stabilize. They have a lot of free cash flow. We have seen some pretty significant increases in production, all internally funded. It has done nothing so it has lots of upside.

DON'T BUY
DON'T BUY
March 23, 2017

There is nothing wrong with it, but there is a buyer strike. Investors are standing back. He has US names that will grow more and at a cheaper valuation. It is difficult to make a case for owning the Canadian names.

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There is nothing wrong with it, but there is a buyer strike. Investors are standing back. He has US names that will grow more and at a cheaper valuation. It is difficult to make a case for owning the Canadian names.

COMMENT
COMMENT
March 21, 2017

When a sector gets crushed the overwhelming sentiment is to go back and look for the money that you feel it owes you. A lot of people jumped right back into the energy stocks in Jan-Feb. The history is, unless you get significant restructuring, it is likely there is going to be some indigestion after 12-14 months. That looks like what we are getting. He would prefer something like Algonquin Power (AQN-T) which is acting pretty well and is in a defensive group.

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When a sector gets crushed the overwhelming sentiment is to go back and look for the money that you feel it owes you. A lot of people jumped right back into the energy stocks in Jan-Feb. The history is, unless you get significant restructuring, it is likely there is going to be some indigestion after 12-14 months. That looks like what we are getting. He would prefer something like Algonquin Power (AQN-T) which is acting pretty well and is in a defensive group.

COMMENT
COMMENT
March 17, 2017

This has recently caught his attention. 2-3 years ago, this was considered to be one of the dividend stocks to hold. Because of the price of energy, it has come down since the beginning of the year. Very well-managed. This is showing up on his valuation screens as looking reasonable.

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This has recently caught his attention. 2-3 years ago, this was considered to be one of the dividend stocks to hold. Because of the price of energy, it has come down since the beginning of the year. Very well-managed. This is showing up on his valuation screens as looking reasonable.

COMMENT
COMMENT
March 9, 2017

Among the oil/gas dividend players, he considers this to be the best in the group. He doesn’t buy oil/gas dividend stocks, because they are too volatile for the yield. This company will continue to grow its production by 5%-10%.

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Among the oil/gas dividend players, he considers this to be the best in the group. He doesn’t buy oil/gas dividend stocks, because they are too volatile for the yield. This company will continue to grow its production by 5%-10%.

PAST TOP PICK
PAST TOP PICK
February 10, 2017

(A Top Pick Sept 12/16. Up 1.92%.) A very good company. What has been hurting Canadian producers is the reaction to what is going on in the US with the border adjustment tax Trump has been talking about.

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Whitecap Resources (WCP-T)
February 10, 2017

(A Top Pick Sept 12/16. Up 1.92%.) A very good company. What has been hurting Canadian producers is the reaction to what is going on in the US with the border adjustment tax Trump has been talking about.

TOP PICK
TOP PICK
February 10, 2017

Great management. It has very light oil properties in Alberta and Saskatchewan. The team has focused on properties that have a low decline rate of about 20%, and don’t have to drill is much as companies that have a 40% decline rate. Bought a large Saskatchewan land play off of Husky Oil last year. Dividend yield of 2.61%. (Analysts’ price target is $14.92.)

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Whitecap Resources (WCP-T)
February 10, 2017

Great management. It has very light oil properties in Alberta and Saskatchewan. The team has focused on properties that have a low decline rate of about 20%, and don’t have to drill is much as companies that have a 40% decline rate. Bought a large Saskatchewan land play off of Husky Oil last year. Dividend yield of 2.61%. (Analysts’ price target is $14.92.)

COMMENT
COMMENT
February 1, 2017

Whitecap Resources (WCP-T) or Crescent Point (CPG-T)? Two different types of companies. This is more of a growth company paying a dividend, while Crescent Point is much more mature. It pays a fairly good dividend. This caught his attention lately and he has begun to look at. Very good balance sheet. They have capacity to bring on another $1.3 billion in debt. People are forecasting this is going to grow from 46,000 barrels a day, to something like 57,000. If you want more potential growth, this is probably not a bad way to go. Pays a very generous dividend.

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Whitecap Resources (WCP-T)
February 1, 2017

Whitecap Resources (WCP-T) or Crescent Point (CPG-T)? Two different types of companies. This is more of a growth company paying a dividend, while Crescent Point is much more mature. It pays a fairly good dividend. This caught his attention lately and he has begun to look at. Very good balance sheet. They have capacity to bring on another $1.3 billion in debt. People are forecasting this is going to grow from 46,000 barrels a day, to something like 57,000. If you want more potential growth, this is probably not a bad way to go. Pays a very generous dividend.

HOLD
HOLD
January 31, 2017

The market is being fairly efficient at pricing a lot of these companies as they are very similar valuations. He likes this one very much. He doesn’t own it, only because it has held up better than its peers, and is trading at a slight premium. There is upside where he thinks they will increase their CapX spending as long as oil remains in the $50-$55 level. On his estimates, they will be growing production this year by 17%, and by about 10% next year. Slightly better than average growth for a slightly higher multiple. He would have no issues owning this.

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Whitecap Resources (WCP-T)
January 31, 2017

The market is being fairly efficient at pricing a lot of these companies as they are very similar valuations. He likes this one very much. He doesn’t own it, only because it has held up better than its peers, and is trading at a slight premium. There is upside where he thinks they will increase their CapX spending as long as oil remains in the $50-$55 level. On his estimates, they will be growing production this year by 17%, and by about 10% next year. Slightly better than average growth for a slightly higher multiple. He would have no issues owning this.

TOP PICK
TOP PICK
January 12, 2017

Exploration and production light oil production. They plan to increase from 45k to 55k barrels per day production by the end of this year. He likes that the balance sheet has room on it and they carry less debt than peers. They stand to benefit from a rising commodity. (Analysts’ Target; $14.80).

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Whitecap Resources (WCP-T)
January 12, 2017

Exploration and production light oil production. They plan to increase from 45k to 55k barrels per day production by the end of this year. He likes that the balance sheet has room on it and they carry less debt than peers. They stand to benefit from a rising commodity. (Analysts’ Target; $14.80).

TOP PICK
TOP PICK
January 4, 2017

A midsized light oil player and a dividend player. Management’s idea is if it can give investors 10% production share growth, each year, and pay a modest dividend, maintain existing production, it is a viable way to build a business. During the downturn, management was able to buy assets on the cheap. They bought a number of land packages that really increased the size of the company. Dividend yield of 2.28%. (Analysts’ price target is $14.33.)

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A midsized light oil player and a dividend player. Management’s idea is if it can give investors 10% production share growth, each year, and pay a modest dividend, maintain existing production, it is a viable way to build a business. During the downturn, management was able to buy assets on the cheap. They bought a number of land packages that really increased the size of the company. Dividend yield of 2.28%. (Analysts’ price target is $14.33.)

HOLD
HOLD
December 21, 2016

He likes the company although he doesn’t currently own it. It has been one of the better managed ones through this whole debacle. They have been quite proactive in how they handled their balance sheet and finances. There have been a lot of costs taken out of the energy companies in the last few years, and are much more efficient than they used to be.

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Whitecap Resources (WCP-T)
December 21, 2016

He likes the company although he doesn’t currently own it. It has been one of the better managed ones through this whole debacle. They have been quite proactive in how they handled their balance sheet and finances. There have been a lot of costs taken out of the energy companies in the last few years, and are much more efficient than they used to be.

PAST TOP PICK
PAST TOP PICK
December 6, 2016

(A Top Pick July 21/16. Up 22.92%.) See today's Top Picks for comments.

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Whitecap Resources (WCP-T)
December 6, 2016

(A Top Pick July 21/16. Up 22.92%.) See today's Top Picks for comments.

TOP PICK
TOP PICK
December 6, 2016

All 3 picks have recently done fairly transformative acquisitions. He wants to own companies that have institutional following and access to capital markets and could do smart acquisitions at the bottom of the cycle. This does about 50,000 barrels a day, 80% weighted towards oil. Recently did an acquisition of some very low decline assets. They also have a little bit of hedging in place. Feels they have one of the most sustainable dividend profiles of the group. Dividend yield of 2.34%. (Analysts’ price target is $13.89.)

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Whitecap Resources (WCP-T)
December 6, 2016

All 3 picks have recently done fairly transformative acquisitions. He wants to own companies that have institutional following and access to capital markets and could do smart acquisitions at the bottom of the cycle. This does about 50,000 barrels a day, 80% weighted towards oil. Recently did an acquisition of some very low decline assets. They also have a little bit of hedging in place. Feels they have one of the most sustainable dividend profiles of the group. Dividend yield of 2.34%. (Analysts’ price target is $13.89.)

COMMENT
COMMENT
December 5, 2016

Tourmaline (TOU-T), Seven Generations (VII-T), or Whitecap (WCP-T) for price appreciation? All 3 of these companies are really well run energy companies. They have all done well operationally and stock-wise over the last year. His 1st pick would probably be Tourmaline, which has the best combination of quality management and growing its earnings and cash flow, with a relatively reasonable valuation.

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Whitecap Resources (WCP-T)
December 5, 2016

Tourmaline (TOU-T), Seven Generations (VII-T), or Whitecap (WCP-T) for price appreciation? All 3 of these companies are really well run energy companies. They have all done well operationally and stock-wise over the last year. His 1st pick would probably be Tourmaline, which has the best combination of quality management and growing its earnings and cash flow, with a relatively reasonable valuation.

COMMENT
COMMENT
December 1, 2016

This has run way, way ahead of its earnings. The consensus earnings is $0.21, which puts quite a healthy P/E ratio on it. Essentially, baked into the current price, is a higher oil price, possibly quite a bit higher. At the current price, it is up against some technical resistance. When you invest in oil companies, you are now speculating that oil prices are going up. If you are wrong, some of these companies are so far away from anything that resembles a reasonable value, that you have big downside risks.

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Whitecap Resources (WCP-T)
December 1, 2016

This has run way, way ahead of its earnings. The consensus earnings is $0.21, which puts quite a healthy P/E ratio on it. Essentially, baked into the current price, is a higher oil price, possibly quite a bit higher. At the current price, it is up against some technical resistance. When you invest in oil companies, you are now speculating that oil prices are going up. If you are wrong, some of these companies are so far away from anything that resembles a reasonable value, that you have big downside risks.

PAST TOP PICK
PAST TOP PICK
November 21, 2016

(A Top Pick Sept 12/16. Up 12.41%.) One of the larger holdings in his funds. An oil producer that will grow production next year by about 15% on a per share basis. Still maintains its dividend yield of about 3%. They do that all within the confines of cash flow.

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Whitecap Resources (WCP-T)
November 21, 2016

(A Top Pick Sept 12/16. Up 12.41%.) One of the larger holdings in his funds. An oil producer that will grow production next year by about 15% on a per share basis. Still maintains its dividend yield of about 3%. They do that all within the confines of cash flow.

HOLD
HOLD
November 10, 2016

It is a goto name for growth-oriented managers. They are more oil exposed. They are a big beneficiary of higher oil prices. Recently they have done a bit better. He would stick with it.

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Whitecap Resources (WCP-T)
November 10, 2016

It is a goto name for growth-oriented managers. They are more oil exposed. They are a big beneficiary of higher oil prices. Recently they have done a bit better. He would stick with it.

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