Whitecap Resources (TSE:WCP) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Whitecap Resources shares rose 3.9%, trading above their 200-day moving average of C$14.96 and reaching C$16.88 before closing at C$16.79.
• Analysts remain positive, with an average rating of “Buy” and a consensus price target of C$18.55; several firms recently raised their targets to between C$18.00 and C$26.00.
• Whitecap announced a monthly dividend of C$0.0608 per share, implying a 4.3% annualized yield, while insiders purchased 31,500 shares worth approximately C$481,010 over the past 90 days.

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.96 and traded as high as C$16.88. Whitecap Resources shares last traded at C$16.79, with a volume of 6,121,633 shares changing hands.

Analyst Ratings Changes

WCP has been the subject of several research analyst reports. National Bank Financial boosted their target price 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 target price on Whitecap Resources from C$17.00 to C$18.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Scotia boosted their price target on shares of Whitecap Resources from C$17.00 to C$19.00 and gave the stock a "sector outperform" rating in a research report on Thursday, April 30th. Raymond James Financial upped their target price on Whitecap Resources from C$18.00 to C$20.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Finally, ATB Cormark Capital Markets increased their target price on shares of Whitecap Resources from C$17.50 to C$18.50 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$18.55.

Whitecap Resources Stock Up 3.9%

The firm has a market capitalization of C$20.41 billion, a P/E ratio of 14.99, a P/E/G ratio of -0.33 and a beta of 0.16. The company has a current ratio of 0.56, a quick ratio of 0.67 and a debt-to-equity ratio of 24.14. The stock's 50-day simple moving average is C$15.85 and its 200-day simple moving average is C$14.96.

Whitecap Resources (TSE:WCP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$0.73 EPS for the quarter. Whitecap Resources had a return on equity of 12.87% and a net margin of 19.66%.The business had revenue of C$2.35 billion for the quarter. As a group, research analysts predict that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current fiscal year.

Whitecap Resources Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be given a dividend of $0.0608 per share. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, July 31st. Whitecap Resources's dividend payout ratio (DPR) is currently 65.14%.

Insider Activity at Whitecap Resources

In other Whitecap Resources news, Director Grant Bradley Fagerheim acquired 10,000 shares of Whitecap Resources stock in a transaction that occurred on Monday, July 6th. The stock was acquired at an average cost of C$14.46 per share, for a total transaction 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 ownership of the stock. Also, insider Joseph Adam Wong purchased 7,500 shares of Whitecap Resources stock in a transaction dated Monday, July 6th. The stock was bought at an average price of C$14.46 per share, with a total value of C$108,450.00. Following the completion of the transaction, the insider 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. In the last ninety days, insiders acquired 31,500 shares of company stock worth $481,010. Corporate insiders own 0.84% of the company's stock.

Whitecap Resources Company Profile

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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