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

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s share price 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.

Wall Street Analyst Weigh In

WCP has been the subject of a number of recent research reports. National Bank Financial upgraded shares of Whitecap Resources to a "strong-buy" rating in a research note on Monday, May 12th. Desjardins downgraded shares of Whitecap Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. Scotiabank upgraded 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 note on Thursday, May 22nd. Raymond James Financial increased their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 24th. Finally, National Bankshares increased their price objective 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. One 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 company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of C$13.13.

Whitecap Resources Stock Performance

The stock has a market capitalization of C$6.02 billion, a P/E ratio of 6.96, a PEG ratio of -0.33 and a beta of 2.67. 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 company's fifty day simple moving average is C$9.41 and its two-hundred day simple moving average is C$9.11.

Whitecap Resources Dividend Announcement

The business also recently declared a jul 25 dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be issued a $0.0608 dividend. This represents a yield of 754.0%. The ex-dividend date of this dividend is Thursday, July 31st. Whitecap Resources's dividend payout ratio is currently 49.25%.

Insider Activity

In other Whitecap Resources news, Director Grant Bradley Fagerheim bought 15,000 shares of the stock in a transaction dated Thursday, July 10th. The shares were bought at an average cost of C$9.43 per share, with a total value of C$141,450.00. Also, Director Bradley John Wall bought 11,500 shares of the stock in a transaction dated 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 three months, insiders acquired 75,000 shares of company stock worth $652,730. 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.