Whitecap Resources (TSE:WCP) Share Price Crosses Above 200-Day Moving Average - What's Next?

Whitecap Resources Inc. (TSE:WCP - Get Free Report) passed 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.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WCP. National Bankshares upped their target price 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. National Bank Financial upgraded shares of Whitecap Resources to a "strong-buy" rating in a research note on Monday, May 12th. 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 research note on Thursday, July 3rd. CIBC reduced their target price on shares of Whitecap Resources from C$14.50 to C$13.00 in a research note on Thursday, April 10th. Finally, Scotiabank upgraded shares of Whitecap Resources from a "sector perform" rating to an "outperform" rating and set a C$12.00 target price for the company in a research note on Thursday, May 22nd. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of C$13.00.

Whitecap Resources Stock Performance

The company has a market cap of C$5.62 billion, a P/E ratio of 6.50, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The company's 50-day moving average is C$8.88 and its two-hundred day moving average is C$9.12. 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 business also recently declared a jun 25 dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.0608 per share. Whitecap Resources's payout ratio is currently 49.25%.

Insider Activity at Whitecap Resources

In other Whitecap Resources news, Director Grant Bradley Fagerheim acquired 15,000 shares of the company's stock in a transaction on Friday, May 9th. The shares were acquired at an average cost of C$8.06 per share, with a total value of C$120,900.00. Also, Director Bradley John Wall acquired 11,500 shares of the company's stock in a transaction on Thursday, May 29th. The shares were acquired at an average cost of C$8.77 per share, for a total transaction of C$100,855.00. Over the last 90 days, insiders purchased 70,000 shares of company stock worth $599,180. 0.84% of the stock is owned by company 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.