Whitecap Resources (TSE:WCP) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Whitecap's share price climbed above its 200-day moving average, trading as high as C$14.13 and last at C$13.72 versus a 200-day MA of C$11.47 on heavy volume (~10.15M shares).
• Analysts have been raising targets and ratings recently, leaving a consensus Buy rating with an average price target of C$15.15 after multiple upgrades and target increases to C$15–C$16.
• Whitecap announced a monthly dividend of $0.0608 per share (ex-dividend Feb 27, payable Mar 16), implying a roughly 5.3% yield and a payout ratio of about 73.7%.

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$11.47 and traded as high as C$14.13. Whitecap Resources shares last traded at C$13.72, with a volume of 10,149,046 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Securities increased their price target on Whitecap Resources from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research note on Tuesday, February 24th. Scotiabank lifted their price objective on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company a "hold" rating in a research note on Tuesday, January 20th. Raymond James Financial downgraded shares of Whitecap Resources from a "strong-buy" rating to a "moderate buy" rating and upped their price objective for the stock from C$15.00 to C$16.00 in a report on Tuesday, February 24th. Royal Bank Of Canada raised their target price on shares of Whitecap Resources from C$14.00 to C$16.00 and gave the company an "outperform" rating in a research note on Wednesday, February 25th. Finally, ATB Cormark Capital Markets boosted their price target on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the stock a "moderate buy" rating in a research report on Tuesday, February 24th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Whitecap Resources has an average rating of "Buy" and a consensus target price of C$15.15.

Whitecap Resources Stock Down 1.1%

The company has a debt-to-equity ratio of 40.03, a quick ratio of 0.67 and a current ratio of 0.68. The stock has a 50 day moving average price of C$12.50 and a 200 day moving average price of C$11.47. The company has a market cap of C$16.65 billion, a P/E ratio of 13.86, a P/E/G ratio of -0.33 and a beta of 0.67.

Whitecap Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 16th will be issued a dividend of $0.0608 per share. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Friday, February 27th. Whitecap Resources's payout ratio is presently 73.70%.

About Whitecap Resources

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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