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

Key Points

• Whitecap Resources shares moved above their 200-day moving average, trading as high as C$15.63 and last changing hands at C$15.53, signaling recent positive momentum in the stock.
• Several analysts have raised price targets on Whitecap, with the consensus rating remaining Buy and an average target price of C$17.91.
• The company also declared a monthly dividend of $0.0608 per share, payable August 17, implying a 4.7% annualized yield, while insiders recently increased their holdings through open-market purchases.

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$14.35 and traded as high as C$15.63. Whitecap Resources shares last traded at C$15.53, with a volume of 3,735,565 shares traded.

Analyst Upgrades and Downgrades

WCP has been the topic of several recent research reports. ATB Cormark Capital Markets upped their price target on shares of Whitecap Resources from C$17.50 to C$18.50 and gave the company an "outperform" rating in a report on Thursday, April 30th. National Bank Financial raised their price target on Whitecap Resources from C$25.00 to C$26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. TD lifted their price target on shares of Whitecap Resources from C$17.00 to C$18.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Royal Bank Of Canada lifted their price objective on Whitecap Resources from C$18.00 to C$20.00 and gave the company an "outperform" rating in a research note on Tuesday, May 26th. Finally, Raymond James Financial upped their price target on shares of Whitecap Resources from C$18.00 to C$20.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of C$17.91.

Whitecap Resources Trading Down 0.1%

The company has a market cap of C$18.88 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of -0.33 and a beta of 0.18. The firm has a 50-day moving average price of C$15.88 and a 200 day moving average price of C$14.35. The company has a current ratio of 0.54, a quick ratio of 0.67 and a debt-to-equity ratio of 33.01.

Whitecap Resources (TSE:WCP - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported C$0.02 earnings per share for the quarter. Whitecap Resources had a net margin of 13.32% and a return on equity of 7.70%. The firm had revenue of C$1.84 billion during the quarter. As a group, sell-side analysts forecast that Whitecap Resources Inc. will post 1.1226131 EPS for the current year.

Whitecap Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be given a dividend of $0.0608 per share. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 4.7%. Whitecap Resources's payout ratio is currently 99.95%.

Insider Activity

In other Whitecap Resources news, insider Joseph Adam Wong acquired 7,500 shares of the firm's stock in a transaction that occurred on Monday, July 6th. The stock was acquired at an average cost of C$14.46 per share, with a total value of C$108,450.00. Following the acquisition, the insider directly owned 111,416 shares of the company's stock, valued at C$1,611,075.36. This represents a 7.22% increase in their position. Also, Director Grant Bradley Fagerheim purchased 10,000 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was acquired at an average cost of C$14.46 per share, with a total value of C$144,600.00. Following the purchase, the director owned 3,308,099 shares of the company's stock, valued at approximately C$47,835,111.54. This represents a 0.30% increase in their position. Over the last quarter, insiders bought 31,500 shares of company stock valued at $481,010 and sold 6,100 shares valued at $83,826. Corporate insiders own 0.84% of the company's stock.

About Whitecap Resources

Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.

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