Whitecap Resources (TSE:WCP) Shares Pass Above 200-Day Moving Average - Here's What Happened

Whitecap Resources Inc. (TSE:WCP - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.10 and traded as high as C$10.80. Whitecap Resources shares last traded at C$10.74, with a volume of 4,234,765 shares.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WCP. National Bank Financial upgraded Whitecap Resources to a "strong-buy" rating in a report on Monday, May 12th. Scotiabank upgraded 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. Raymond James Financial increased their target price on Whitecap Resources from C$13.00 to C$14.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 24th. National Bankshares upped their price target on Whitecap Resources from C$14.50 to C$15.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, CIBC dropped their price target on Whitecap Resources from C$14.50 to C$13.00 in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of C$13.13.

Whitecap Resources Price Performance

The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. The firm has a market cap of C$6.02 billion, a price-to-earnings ratio of 6.96, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The stock has a 50-day moving average of C$9.44 and a two-hundred day moving average of C$9.11.

Whitecap Resources Announces Dividend

The firm also recently disclosed a jul 25 dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.0608 per share. The ex-dividend date is Thursday, July 31st. This represents a yield of 754.0%. Whitecap Resources's dividend payout ratio (DPR) is presently 49.25%.

Insider Transactions at Whitecap Resources

In other news, Director Bradley John Wall purchased 11,500 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was bought at an average cost of C$8.77 per share, with a total value of C$100,855.00. Also, Director Grant Bradley Fagerheim purchased 5,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average cost of C$10.71 per share, with a total value of C$53,550.00. Insiders have acquired a total of 75,000 shares of company stock valued at $652,730 over the last 90 days. Corporate 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.