Whitecap Resources (TSE:WCP) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

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$9.12 and traded as high as C$9.64. Whitecap Resources shares last traded at C$9.63, with a volume of 6,544,603 shares changing hands.

Analyst Ratings Changes

A number of research firms recently weighed in on WCP. Raymond James Financial upgraded shares of Whitecap Resources from a "moderate buy" rating to a "strong-buy" rating and upped their target price for the stock from C$12.00 to C$13.00 in a report on Thursday, July 3rd. National Bankshares upped 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 report on Thursday, May 22nd. CIBC reduced their price objective on shares of Whitecap Resources from C$14.50 to C$13.00 in a research report on Thursday, April 10th. National Bank Financial raised shares of Whitecap Resources to a "strong-buy" rating in a research report on Monday, May 12th. Finally, Desjardins downgraded shares of Whitecap Resources from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of C$13.00.

Whitecap Resources Stock Down 0.1%

The company has a market cap of C$5.65 billion, a PE ratio of 6.52, a P/E/G ratio of -0.33 and a beta of 2.67. The company's 50 day moving average is C$8.88 and its 200 day moving average is C$9.11. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58.

Whitecap Resources Announces Dividend

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

Insider Activity

In other Whitecap Resources news, Director Bradley John Wall purchased 11,500 shares of the business's stock in a transaction on Thursday, May 29th. The shares were bought at an average cost of C$8.77 per share, for a total transaction of C$100,855.00. Also, Director Grant Bradley Fagerheim bought 15,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average price of C$8.06 per share, for a total transaction of C$120,900.00. In the last quarter, insiders have bought 70,000 shares of company stock valued at $599,180. 0.84% of the stock is currently owned by insiders.

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.