Whitecap Resources (TSE:WCP) Shares Pass Above 200-Day Moving Average - Time to Sell?

Key Points

• Whitecap Resources shares recently crossed above their 200-day moving average, trading at C$10.20 with a significant volume of over 5 million shares exchanged.
• Equities research analysts have generally positive outlooks, with upgrades from various banks; the consensus rating stands at "Buy" with an average target price of C$13.13.
• The company declared a dividend of $0.0608 per share for September 15th, with an overall payout ratio of 49.25%.

Whitecap Resources Inc. (TSE:WCP - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.13 and traded as high as C$10.20. Whitecap Resources shares last traded at C$10.20, with a volume of 5,272,216 shares changing hands.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Scotiabank upgraded shares of Whitecap Resources from a "sector perform" rating to an "outperform" rating and set a C$12.00 price objective on the stock in a research report on Thursday, May 22nd. National Bankshares lifted their price target on shares of Whitecap Resources from C$14.50 to C$15.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Desjardins downgraded shares of Whitecap Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. National Bank Financial raised shares of Whitecap Resources to a "strong-buy" rating in a research report on Monday, May 12th. Finally, Raymond James Financial boosted their target price on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the company a "strong-buy" rating in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of C$13.13.

Whitecap Resources Stock Down 0.2%

The stock has a market capitalization of C$5.94 billion, a P/E ratio of 6.87, a P/E/G ratio of -0.33 and a beta of 2.67. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. The business has a 50-day moving average price of C$9.84 and a 200 day moving average price of C$9.13.

Whitecap Resources Announces Dividend

The firm also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Sunday, August 31st will be paid a dividend of $0.0608 per share. Whitecap Resources's payout ratio is 49.25%.

Insider Buying and Selling

In other news, Director Bradley John Wall acquired 11,500 shares of Whitecap Resources stock in a transaction that occurred on Thursday, May 29th. The stock was 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 5,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average price of C$10.71 per share, with a total value of C$53,550.00. In the last quarter, insiders purchased 41,500 shares of company stock worth $383,055. 0.84% of the stock is owned by insiders.

Whitecap Resources Company Profile

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.