Whitecap Resources (TSE:WCP) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Whitecap Resources shares crossed above their 200-day moving average, reaching C$18.13 and last trading at C$18.03 on heavy volume of 5.64 million shares.
• Analysts remain broadly positive, with an average “Buy” rating and an average price target of C$18.55; individual targets range as high as C$22.00.
• The company reported C$0.73 in quarterly EPS on C$2.35 billion in revenue and continues to pay a monthly C$0.0608 dividend, representing an approximately 4.0% yield. Insiders also purchased 25,500 shares in the last quarter.

Whitecap Resources Inc. (TSE:WCP - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$15.43 and traded as high as C$18.13. Whitecap Resources shares last traded at C$18.03, with a volume of 5,644,011 shares.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WCP. Scotia raised 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 report on Thursday, April 30th. Raymond James Financial upped their price target on shares of Whitecap Resources from C$18.00 to C$20.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. TD raised their price objective on shares of Whitecap Resources from C$17.00 to C$18.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Royal Bank Of Canada lifted their price objective on shares of Whitecap Resources from C$18.00 to C$20.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 26th. Finally, Desjardins set a C$22.00 target price on shares of Whitecap Resources and gave the company a "buy" rating in a research note on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of C$18.55.

Whitecap Resources Price Performance

The stock has a market capitalization of C$21.92 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of -0.33 and a beta of 0.16. The company has a current ratio of 0.56, a quick ratio of 0.67 and a debt-to-equity ratio of 24.14. The stock has a 50-day simple moving average of C$16.16 and a 200 day simple moving average of C$15.43.

Whitecap Resources (TSE:WCP - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported C$0.73 earnings per share for the quarter. The company had revenue of C$2.35 billion for the quarter. Whitecap Resources had a return on equity of 12.87% and a net margin of 19.66%. On average, equities research analysts forecast that Whitecap Resources Inc. will post 1.1226131 EPS for the current fiscal year.

Whitecap Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were paid a $0.0608 dividend. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, July 31st. Whitecap Resources's dividend payout ratio is currently 65.14%.

Insiders Place Their Bets

In related news, Director Grant Bradley Fagerheim bought 10,000 shares of the firm's stock in a transaction on Monday, July 6th. The stock was bought at an average price of C$14.46 per share, with a total value of C$144,600.00. Following the purchase, the director directly owned 3,308,099 shares of the company's stock, valued at approximately C$47,835,111.54. This represents a 0.30% increase in their position. Also, insider Joseph Adam Wong bought 7,500 shares of the firm's stock in a transaction on Monday, July 6th. The shares were bought at an average cost of C$14.46 per share, with a total value of C$108,450.00. Following the purchase, the insider directly owned 111,416 shares in the company, valued at approximately C$1,611,075.36. This trade represents a 7.22% increase in their ownership of the stock. Insiders purchased a total of 25,500 shares of company stock worth $380,990 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

About Whitecap Resources

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source