Whitecap Resources (TSE:WCP) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Whitecap Resources Inc. (TSE:WCP) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.61 and traded as high as C$10.65. Whitecap Resources shares last traded at C$10.55, with a volume of 5,282,723 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Desjardins increased their price target on Whitecap Resources from C$13.00 to C$13.50 and gave the stock a “buy” rating in a research note on Friday, October 24th. TD Securities increased their price target on Whitecap Resources from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Raymond James Financial increased their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 23rd. Scotiabank increased their price target on Whitecap Resources from C$12.00 to C$14.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Finally, Tudor Pickering upgraded Whitecap Resources to a “strong-buy” rating in a research note on Wednesday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$14.00.

Whitecap Resources Price Performance

The business has a fifty day moving average of C$10.56 and a 200-day moving average of C$9.61. The firm has a market cap of C$12.81 billion, a PE ratio of 9.34, a PEG ratio of -0.33 and a beta of 0.66. 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 business also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 17th will be issued a dividend of $0.0608 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 6.9%. Whitecap Resources’s dividend payout ratio is 64.57%.

Insider Transactions at Whitecap Resources

In related news, Director Grant Bradley Fagerheim acquired 15,000 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately C$34,139,897. This trade represents a 0.47% increase in their position. Company 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.