Whitecap Resources (TSE:WCP) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Whitecap Resources' stock price recently crossed above its 200-day moving average, reaching a high of C$11.29, and last traded at C$11.13 with over 6.7 million shares exchanged.
• Analyst upgrades have pushed the target price for Whitecap Resources from C$12.00 to C$14.00, with a consensus rating of "Buy" among six analysts.
• The company announced a dividend of $0.0608 per share, to be paid on October 15th, with a dividend payout ratio of 49.97%.

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.27 and traded as high as C$11.29. Whitecap Resources shares last traded at C$11.13, with a volume of 6,712,827 shares.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WCP shares. Raymond James Financial increased their target price on Whitecap Resources from C$13.00 to C$14.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 24th. Desjardins raised Whitecap Resources from a "hold" rating to a "buy" rating and increased their target price for the stock from C$12.00 to C$12.50 in a report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of C$13.57.

Whitecap Resources Trading Up 0.5%

The firm has a market cap of C$13.71 billion, a P/E ratio of 7.62, a P/E/G ratio of -0.33 and a beta of 0.74. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88. The firm has a fifty day moving average of C$10.36 and a 200-day moving average of C$9.27.

Whitecap Resources Announces Dividend

The business also recently declared a sep 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.0608 dividend. Whitecap Resources's dividend payout ratio (DPR) is 49.97%.

Insider Activity

In related news, Director Grant Bradley Fagerheim purchased 5,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average price of C$10.32 per share, with a total value of C$51,600.00. Following the acquisition, the director owned 3,195,745 shares in the company, valued at approximately C$32,980,088.40. This trade represents a 0.16% increase in their position. Over the last 90 days, insiders purchased 25,000 shares of company stock valued at $246,600. Company insiders own 0.84% of the company's stock.

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.

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