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

Shares of Whitecap Resources Inc. (TSE:WCP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$14.35 and traded as high as C$15.63. Whitecap Resources shares last traded at C$15.53, with a volume of 3,735,565 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WCP. Royal Bank Of Canada boosted their price objective on Whitecap Resources from C$18.00 to C$20.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. TD raised their target price on Whitecap Resources from C$17.00 to C$18.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Scotiabank upgraded shares of Whitecap Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 19th. Desjardins set a C$22.00 price target on shares of Whitecap Resources and gave the company a “buy” rating in a report on Friday. Finally, ATB Cormark Capital Markets increased their price objective on shares of Whitecap Resources from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to MarketBeat.com, Whitecap Resources currently has an average rating of “Buy” and a consensus target price of C$18.55.

Whitecap Resources Stock Performance

The company has a debt-to-equity ratio of 33.01, a quick ratio of 0.67 and a current ratio of 0.54. The firm has a 50 day moving average price of C$15.88 and a two-hundred day moving average price of C$14.37. The company has a market capitalization of C$19.44 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of -0.33 and a beta of 0.18.

Whitecap Resources (TSE:WCP) last posted its earnings results on Wednesday, April 29th. The company reported C$0.02 EPS for the quarter. Whitecap Resources had a return on equity of 7.70% and a net margin of 13.32%.The business had revenue of C$1.84 billion during the quarter. On average, research analysts expect that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current fiscal year.

Whitecap Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be issued a $0.0608 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 4.6%. Whitecap Resources’s dividend payout ratio is presently 99.95%.

Insider Buying and Selling

In other news, insider Travis Bjarne Tweit purchased 3,000 shares of Whitecap Resources stock in a transaction on Monday, June 15th. The shares were purchased at an average cost of C$15.48 per share, for a total transaction of C$46,440.00. Following the completion of the transaction, the insider directly owned 230,204 shares in the company, valued at approximately C$3,563,557.92. This represents a 1.32% increase in their ownership of the stock. Also, insider Joseph Adam Wong acquired 7,500 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were purchased at an average cost of C$14.46 per share, for a total transaction of C$108,450.00. Following the completion of the purchase, the insider directly owned 111,416 shares of the company’s stock, valued at approximately C$1,611,075.36. The trade was a 7.22% increase in their position. Insiders bought 31,500 shares of company stock worth $481,010 in the last quarter. 0.84% of the stock is owned by corporate insiders.

Whitecap Resources Company Profile

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.