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

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.43 and traded as high as C$10.75. Whitecap Resources shares last traded at C$10.51, with a volume of 8,263,664 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WCP. Scotiabank upped their price objective on shares of Whitecap Resources from C$12.00 to C$14.00 and gave the company a "sector perform" rating in a research note on Thursday, October 9th. Desjardins upgraded shares of Whitecap Resources from a "hold" rating to a "buy" rating and increased their price target for the company from C$12.00 to C$12.50 in a report on Tuesday, August 26th. Finally, Raymond James Financial raised their target price on shares of 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 analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Whitecap Resources has a consensus rating of "Buy" and a consensus price target of C$13.86.

Whitecap Resources Stock Down 2.8%

The stock has a market capitalization of C$12.95 billion, a P/E ratio of 7.20, a P/E/G ratio of -0.33 and a beta of 0.66. The company's 50-day moving average price is C$10.48 and its 200 day moving average price is C$9.43. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88.

Whitecap Resources Dividend Announcement

The business also recently declared a sep 25 dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.0608 dividend. Whitecap Resources's dividend payout ratio is currently 49.97%.

Insider Transactions at Whitecap Resources

In related news, Director Grant Bradley Fagerheim purchased 15,000 shares of Whitecap Resources stock in a transaction on Friday, October 10th. The shares were bought at an average cost of C$10.60 per share, for a total transaction of C$159,000.00. Following the acquisition, the director owned 3,220,745 shares in the company, valued at approximately C$34,139,897. The trade was a 0.47% increase in their position. In the last 90 days, insiders have acquired 25,000 shares of company stock valued at $264,150. 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.

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