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

Key Points

• Whitecap Resources Inc. (TSE:WCP) has seen its stock price exceed the 200-day moving average, trading at C$10.17 with a high of C$10.18 during recent trading sessions.
• Analysts have given favorable ratings, with Raymond James increasing their price target from C$13.00 to C$14.00, and the consensus price target for WCP currently stands at C$13.13.
• The company plans to pay a dividend of $0.0608 on September 15th, with a payout ratio of 49.25%, reflecting a commitment to returning value to shareholders.

Shares of Whitecap Resources Inc. (TSE:WCP - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.12 and traded as high as C$10.18. Whitecap Resources shares last traded at C$10.17, with a volume of 4,846,405 shares changing hands.

Analyst Upgrades and Downgrades

WCP has been the topic of a number of recent research reports. Scotiabank raised Whitecap Resources from a "sector perform" rating to an "outperform" rating and set a C$12.00 price objective on the stock in a research report on Thursday, May 22nd. Desjardins downgraded Whitecap Resources from a "moderate buy" rating to a "hold" rating in a report on Tuesday, June 3rd. National Bankshares lifted their price objective on Whitecap Resources from C$14.50 to C$15.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Raymond James Financial boosted their price objective on Whitecap Resources from C$13.00 to C$14.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 24th. Finally, National Bank Financial upgraded shares of Whitecap Resources to a "strong-buy" rating in a research note on Monday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Whitecap Resources currently has an average rating of "Buy" and a consensus price target of C$13.13.

Whitecap Resources Price Performance

The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67. The company's 50 day simple moving average is C$9.75 and its 200 day simple moving average is C$9.11. The company has a market capitalization of C$5.77 billion, a PE ratio of 6.67, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67.

Whitecap Resources Announces Dividend

The company also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Sunday, August 31st will be issued a dividend of $0.0608 per share. Whitecap Resources's payout ratio is 49.25%.

Insider Transactions at Whitecap Resources

In other news, Director Bradley John Wall bought 11,500 shares of the firm's stock in a transaction that occurred 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. Also, Director Grant Bradley Fagerheim purchased 5,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average price of C$10.71 per share, for a total transaction of C$53,550.00. Insiders have bought 41,500 shares of company stock worth $383,055 in the last quarter. 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.