Whitecap Resources (TSE:WCP) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$9.13 and traded as high as C$9.35. Whitecap Resources shares last traded at C$9.24, with a volume of 4,241,797 shares trading hands.

Wall Street Analysts Forecast Growth

WCP has been the subject of several recent analyst reports. Desjardins lowered Whitecap Resources from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. Raymond James Financial raised shares of Whitecap Resources from a "moderate buy" rating to a "strong-buy" rating and lifted their price target for the company from C$12.00 to C$13.00 in a research note on Thursday. National Bankshares lifted their price target on shares of Whitecap Resources from C$14.50 to C$15.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Scotiabank raised shares of Whitecap Resources from a "sector perform" rating to an "outperform" rating and set a C$12.00 price target for the company in a research note on Thursday, May 22nd. Finally, CIBC decreased their price target on shares of Whitecap Resources from C$14.50 to C$13.00 in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of C$13.00.

Whitecap Resources Stock Performance

The business has a 50-day moving average price of C$8.73 and a 200-day moving average price of C$9.13. The firm has a market capitalization of C$5.44 billion, a price-to-earnings ratio of 6.28, a P/E/G ratio of -0.33 and a beta of 2.67. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58.

Whitecap Resources Dividend Announcement

The company also recently announced a jun 25 dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.0608 dividend. Whitecap Resources's payout ratio is 49.25%.

Insider Activity at Whitecap Resources

In related news, Director Bradley John Wall purchased 11,500 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were purchased at an average cost of C$8.77 per share, with a total value of C$100,855.00. Also, Director Grant Bradley Fagerheim purchased 15,000 shares of the business's stock in a transaction dated Friday, May 9th. The shares were purchased at an average price of C$8.06 per share, with a total value of C$120,900.00. Insiders have bought a total of 65,000 shares of company stock valued at $529,430 in the last ninety days. Company insiders own 0.84% of the company's stock.

About Whitecap Resources

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap's Canadian assets.