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Whitecap Resources (TSE:WCP) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Whitecap Resources logo with Energy background

Key Points

  • Whitecap Resources Inc. has seen its stock price cross above its 200-day moving average, with shares trading at C$10.20 as of the latest update.
  • Several brokerages have upgraded their ratings for the stock, with price targets ranging from C$12.00 to C$15.00, reflecting a consensus average price target of C$13.13.
  • The company announced a dividend of $0.0608 per share, representing a striking yield of 754.0%, with a payout ratio of 49.25%.
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Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.12 and traded as high as C$10.41. Whitecap Resources shares last traded at C$10.20, with a volume of 5,043,806 shares.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WCP. National Bankshares increased their price target on shares of Whitecap Resources from C$14.50 to C$15.00 and gave the stock an "outperform" rating in a report 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. Desjardins cut shares of Whitecap Resources from a "moderate buy" rating to a "hold" rating in a report on Tuesday, June 3rd. CIBC decreased their target price on shares of Whitecap Resources from C$14.50 to C$13.00 in a research report on Thursday, April 10th. Finally, Scotiabank raised Whitecap Resources from a "sector perform" rating to an "outperform" rating and set a C$12.00 price target on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of C$13.13.

View Our Latest Stock Report on Whitecap Resources

Whitecap Resources Stock Down 0.7%

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 business's 50 day moving average is C$9.53 and its 200-day moving average is C$9.12. The stock has a market cap of C$5.96 billion, a price-to-earnings ratio of 6.88, a PEG ratio of -0.33 and a beta of 2.67.

Whitecap Resources Announces Dividend

The business also recently disclosed a jul 25 dividend, which will be paid on Friday, August 15th. Investors 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%.

Insiders Place Their Bets

In related news, Director Grant Bradley Fagerheim acquired 15,000 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were purchased at an average cost of C$8.06 per share, for a total transaction of C$120,900.00. Also, Director Bradley John Wall bought 11,500 shares of the company's stock in a transaction on Thursday, May 29th. The stock was purchased at an average cost of C$8.77 per share, with a total value of C$100,855.00. Insiders have acquired 65,000 shares of company stock worth $576,630 in the last three months. 0.84% of the stock is currently owned by corporate insiders.

Whitecap Resources Company Profile

(Get Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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