Whitecap Resources (TSE:WCP) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Whitecap Resources Inc. (TSE:WCP)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$10.47 and traded as high as C$11.52. Whitecap Resources shares last traded at C$11.48, with a volume of 883,381 shares.

Analyst Ratings Changes

Several research firms have recently commented on WCP. TD Securities increased their price objective on Whitecap Resources from C$13.00 to C$14.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Scotiabank upped their price target on shares of Whitecap Resources from C$12.00 to C$14.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Desjardins lifted their price objective on shares of Whitecap Resources from C$13.00 to C$13.50 and gave the company a “buy” rating in a research report on Friday, October 24th. Capital One Financial upgraded shares of Whitecap Resources to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Tudor Pickering upgraded shares of Whitecap Resources to a “strong-buy” rating in a research note on Wednesday, October 15th. Four investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$14.08.

Whitecap Resources Stock Performance

The stock has a market capitalization of C$13.94 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of -0.33 and a beta of 0.55. The company’s fifty day simple moving average is C$11.15 and its 200 day simple moving average is C$10.48. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58.

Whitecap Resources (TSE:WCP) last posted its earnings results on Wednesday, October 22nd. The company reported C$0.17 earnings per share (EPS) for the quarter. The company had revenue of C$1.55 billion during the quarter. Whitecap Resources had a net margin of 24.23% and a return on equity of 15.86%. On average, equities research analysts expect that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current year.

Whitecap Resources Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 17th were given a dividend of $0.0608 per share. The ex-dividend date was Friday, October 31st. This represents a c) annualized dividend and a yield of 6.4%. Whitecap Resources’s dividend payout ratio (DPR) is 64.57%.

Insider Buying and Selling

In other news, Director Grant Bradley Fagerheim purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The stock was acquired at an average cost of C$10.60 per share, with a total value 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. This trade represents a 0.47% increase in their position. Also, Director Bradley John Wall purchased 2,800 shares of Whitecap Resources stock in a transaction that occurred on Wednesday, October 29th. The stock was purchased at an average price of C$10.70 per share, with a total value of C$29,960.00. Following the completion of the purchase, the director directly owned 3,800 shares in the company, valued at C$40,660. This trade represents a 280.00% increase in their ownership of the stock. Insiders own 0.84% of the company’s stock.

About Whitecap Resources

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. To extract petroleum products from its resources, the company uses horizontal drilling, in addition to multistage fracturing technology. Crude oil is the leading revenue generator out of the basket of energy products sold by Whitecap.