Whitecap Resources (TSE:WCP) Stock Passes Above 200-Day Moving Average – What’s Next?

Whitecap Resources Inc. (TSE:WCP)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.27 and traded as high as C$10.39. Whitecap Resources shares last traded at C$10.21, with a volume of 2,485,495 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. National Bankshares cut their target price on Whitecap Resources from C$15.50 to C$14.50 in a research report on Friday, September 27th. Desjardins lifted their target price on Whitecap Resources from C$12.75 to C$13.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada raised Whitecap Resources to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group cut their price objective on Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Raymond James raised Whitecap Resources to a “hold” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Whitecap Resources has a consensus rating of “Moderate Buy” and a consensus price target of C$13.61.

Whitecap Resources Price Performance

The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 23.55. The business has a 50-day moving average price of C$10.40 and a 200 day moving average price of C$10.27. The stock has a market cap of C$6.12 billion, a PE ratio of 8.17, a PEG ratio of -0.33 and a beta of 2.67.

Whitecap Resources Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were given a dividend of $0.0608 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.73 dividend on an annualized basis and a dividend yield of 7.15%. Whitecap Resources’s dividend payout ratio is presently 58.40%.

Insider Activity

In related news, Director Mary-Jo Case acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were bought at an average cost of C$10.44 per share, for a total transaction of C$52,200.00. Also, Senior Officer Joel Maxwell Armstrong acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were bought at an average price of C$10.43 per share, for a total transaction of C$104,300.00. Insiders have bought 25,000 shares of company stock valued at $261,300 in the last 90 days. Insiders own 0.84% of the company’s stock.

Whitecap Resources Company Profile

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.