Whitecap Resources (TSE:WCP) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.16 and traded as high as C$10.19. Whitecap Resources shares last traded at C$10.12, with a volume of 3,454,393 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WCP shares. Desjardins upgraded shares of Whitecap Resources from a "hold" rating to a "buy" rating and increased their price objective for the stock from C$12.00 to C$12.50 in a research note on Tuesday, August 26th. National Bank Financial upgraded shares of Whitecap Resources to a "strong-buy" rating in a research note on Monday, May 12th. Raymond James Financial increased their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 24th. National Bankshares increased their price objective 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. Finally, 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 note on Thursday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat.com, Whitecap Resources currently has a consensus rating of "Buy" and an average target price of C$13.25.

Whitecap Resources Trading Up 0.4%

The business's 50 day moving average price is C$10.04 and its two-hundred day moving average price is C$9.16. 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 company has a market capitalization of C$12.46 billion, a price-to-earnings ratio of 6.93, a P/E/G ratio of -0.33 and a beta of 0.74.

Whitecap Resources Announces Dividend

The business also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 15th will be paid a $0.0608 dividend. This represents a dividend yield of 699.0%. The ex-dividend date is Friday, August 29th. Whitecap Resources's dividend payout ratio (DPR) is presently 49.97%.

Insider Buying and Selling at Whitecap Resources

In related news, Director Grant Bradley Fagerheim purchased 5,000 shares of Whitecap Resources stock in a transaction dated Wednesday, July 30th. The shares were bought at an average cost of C$10.71 per share, for a total transaction of C$53,550.00. 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.

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