Whitecap Resources (TSE:WCP) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Whitecap Resources Inc. (TSE:WCP)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.72 and traded as high as C$10.49. Whitecap Resources shares last traded at C$10.43, with a volume of 3,679,054 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on WCP shares. TD Securities lifted their target price on shares of 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 lifted their target price on shares of Whitecap Resources from C$12.00 to C$14.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Raymond James Financial boosted their price objective on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 23rd. Desjardins boosted 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 note on Friday, October 24th. Finally, Capital One Financial raised shares of Whitecap Resources to a “strong-buy” rating in a research note on Monday, October 27th. Four analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$14.00.

Whitecap Resources Stock Performance

The stock has a market capitalization of C$12.66 billion, a price-to-earnings ratio of 9.23, a PEG ratio of -0.33 and a beta of 0.50. The stock’s 50 day moving average is C$10.59 and its 200 day moving average is C$9.72. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58.

Whitecap Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 17th will be paid a $0.0608 dividend. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, October 31st. Whitecap Resources’s dividend payout ratio is presently 64.57%.

Insider Buying and Selling

In other Whitecap Resources news, Director Grant Bradley Fagerheim acquired 15,000 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were purchased at an average cost of C$10.60 per share, with a total value of C$159,000.00. Following the purchase, 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 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.