Whitecap Resources (TSE:WCP) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

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%.

Shares of Whitecap Resources Inc. (TSE:WCP - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

WCP has been the topic of several analyst reports. National Bank Financial raised shares of Whitecap Resources to a "strong-buy" rating in a research report on Monday, May 12th. Scotiabank raised shares of Whitecap Resources from a "sector perform" rating to an "outperform" rating and set a C$12.00 price target on the stock in a research report on Thursday, May 22nd. Raymond James Financial lifted their price target on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 24th. National Bankshares lifted their target price on shares of Whitecap Resources from C$14.50 to C$15.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Finally, Desjardins upgraded shares of Whitecap Resources from a "hold" rating to a "buy" rating and boosted their price target for the stock from C$12.00 to C$12.50 in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of C$13.25.

Whitecap Resources Stock Down 0.4%

The stock has a market capitalization of C$6.07 billion, a PE ratio of 7.02, a PEG ratio of -0.33 and a beta of 2.67. The firm's fifty day moving average is C$9.87 and its 200-day moving average is C$9.14. 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 Announces Dividend

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

Insider Transactions at Whitecap Resources

In related news, Director Grant Bradley Fagerheim bought 15,000 shares of the company's stock in a transaction on Thursday, July 10th. The stock was bought at an average cost of C$9.43 per share, with a total value of C$141,450.00. Insiders have bought 30,000 shares of company stock valued at $282,200 over the last three months. 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.