Whitecap Resources (TSE:WCP) Stock Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Whitecap Resources' stock recently surpassed its 200-day moving average, indicating positive momentum in its trading performance, closing at C$10.65.
• Analysts have shown confidence in the stock, with Desjardins upgrading it to a "buy" rating and increasing the price target to C$12.50, while Raymond James set a target at C$14.00.
• The company declared a dividend of $0.0608 payable on October 15th, with a dividend payout ratio of 49.97%, reflecting its financial stability.

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$9.37 and traded as high as C$10.71. Whitecap Resources shares last traded at C$10.65, with a volume of 5,716,887 shares.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Desjardins upgraded Whitecap Resources from a "hold" rating to a "buy" rating and raised their price target for the stock from C$12.00 to C$12.50 in a research report on Tuesday, August 26th. Raymond James Financial lifted 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. Two equities research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of C$13.57.

Whitecap Resources Price Performance

The stock has a market cap of C$13.12 billion, a price-to-earnings ratio of 7.29, a P/E/G ratio of -0.33 and a beta of 0.74. The company has a 50 day simple moving average of C$10.45 and a 200-day simple moving average of C$9.37. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58.

Whitecap Resources Dividend Announcement

The company also recently declared a sep 25 dividend, which will be paid on Wednesday, October 15th. Stockholders 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 at Whitecap Resources

In other news, Director Grant Bradley Fagerheim purchased 5,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were bought at an average cost of C$10.32 per share, for a total transaction of C$51,600.00. Following the completion of the acquisition, the director directly 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. Insiders bought 25,000 shares of company stock valued at $246,600 in the last 90 days. Insiders own 0.84% of the company's stock.

About Whitecap Resources

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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