Whitecap Resources (TSE:WCP) Stock Crosses Above 200 Day Moving Average - Here's Why

Shares of Whitecap Resources Inc. (TSE:WCP - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.09 and traded as high as C$9.98. Whitecap Resources shares last traded at C$9.90, with a volume of 5,247,420 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. National Bankshares upped their price target 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. Scotiabank raised shares of Whitecap Resources from a "sector perform" rating to an "outperform" rating and set a C$12.00 price objective for the company in a research report on Thursday, May 22nd. National Bank Financial raised shares of Whitecap Resources to a "strong-buy" rating in a research report on Monday, May 12th. CIBC cut their price objective on shares of Whitecap Resources from C$14.50 to C$13.00 in a research report on Thursday, April 10th. Finally, Raymond James Financial upped their price objective 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. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$13.13.

Whitecap Resources Trading Down 1.2%

The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58. The business's fifty day moving average is C$9.15 and its 200 day moving average is C$9.10. The firm has a market capitalization of C$6.22 billion, a price-to-earnings ratio of 7.19, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67.

Whitecap Resources Dividend Announcement

The firm also recently declared a jul 25 dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid a $0.0608 dividend. The ex-dividend date is Thursday, July 31st. This represents a yield of 7.54%. Whitecap Resources's payout ratio is currently 49.25%.

Insider Buying and Selling at Whitecap Resources

In other news, Director Bradley John Wall acquired 11,500 shares of the stock in a transaction dated 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 acquired 15,000 shares of the stock in a transaction dated Thursday, July 10th. The shares were purchased at an average price of C$9.43 per share, for a total transaction of C$141,450.00. In the last three months, insiders have acquired 70,000 shares of company stock worth $599,180. 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.