Whitecap Resources (TSE:WCP) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Whitecap Resources Inc. (TSE:WCP) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$10.70 and traded as high as C$11.67. Whitecap Resources shares last traded at C$11.60, with a volume of 4,797,263 shares changing hands.

Analyst Upgrades and Downgrades

WCP has been the topic of several recent research reports. Capital One Financial raised Whitecap Resources to a “strong-buy” rating in a report on Monday, October 27th. Desjardins lifted their price objective on Whitecap Resources from C$13.00 to C$13.50 and gave the stock a “buy” rating in a research report on Friday, October 24th. Scotiabank upped their target price on Whitecap Resources from C$12.00 to C$14.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Tudor Pickering upgraded Whitecap Resources to a “strong-buy” rating in a report on Wednesday, October 15th. Finally, TD Securities increased their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Whitecap Resources presently has an average rating of “Buy” and a consensus target price of C$14.08.

Whitecap Resources Stock Up 0.3%

The firm has a market capitalization of C$14.08 billion, a PE ratio of 10.27, a P/E/G ratio of -0.33 and a beta of 0.62. The stock has a 50-day simple moving average of C$11.42 and a 200-day simple moving average of C$10.71. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported C$0.17 earnings per share for the quarter. The company had revenue of C$1.55 billion during the quarter. Whitecap Resources had a return on equity of 15.86% and a net margin of 24.23%. Analysts forecast that Whitecap Resources Inc. will post 1.1226131 EPS for the current year.

Whitecap Resources Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 17th were issued a dividend of $0.0608 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 6.3%. Whitecap Resources’s dividend payout ratio is 64.57%.

Insiders Place Their Bets

In related news, Director Bradley John Wall purchased 2,800 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were purchased at an average cost of C$10.70 per share, for a total transaction of C$29,960.00. Following the completion of the transaction, the director directly owned 3,800 shares in the company, valued at approximately C$40,660. This represents a 280.00% increase in their position. 0.84% of the stock is owned by insiders.

Whitecap Resources Company Profile

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. To extract petroleum products from its resources, the company uses horizontal drilling, in addition to multistage fracturing technology. Crude oil is the leading revenue generator out of the basket of energy products sold by Whitecap.