Whitecap Resources (TSE:WCP) Share Price Breaks Above 200 Day Moving Average – Here’s What Happened

Whitecap Resources Inc. (TSE:WCP) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$16.48 and traded as high as C$19.32. Whitecap Resources shares last traded at C$19.31, with a volume of 6,049,774 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. TD raised their price target on Whitecap Resources from C$18.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, September 11th. Desjardins set a C$22.00 price objective on shares of Whitecap Resources and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, National Bank Financial increased their price objective on shares of Whitecap Resources from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research report on Wednesday, September 30th. Two analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to data from MarketBeat.com, Whitecap Resources has a consensus rating of “Buy” and an average target price of C$18.91.

Whitecap Resources Trading Up 0.5%

The firm has a market capitalization of C$23.90 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of -0.33 and a beta of 0.29. The business’s 50-day moving average is C$18.04 and its 200 day moving average is C$16.51. The company has a debt-to-equity ratio of 24.14, a current ratio of 0.56 and a quick ratio of 0.67.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C$0.73 earnings per share (EPS) for the quarter. Whitecap Resources had a net margin of 19.66% and a return on equity of 12.87%. The firm had revenue of C$2.35 billion during the quarter. As a group, analysts anticipate that Whitecap Resources Inc. will post 1.12 EPS for the current fiscal year.

Whitecap Resources Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 17th were given a $0.0608 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, July 31st. Whitecap Resources’s payout ratio is presently 65.14%.

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.