Whitecap Resources (TSE:WCP) Share Price Breaks Below 50 Day Moving Average – Should You Sell?

Whitecap Resources Inc. (TSE:WCP)’s share price crossed below its 50-day moving average during trading on Monday. The stock has a 50-day moving average of C$18.74 and traded as low as C$18.31. Whitecap Resources shares last traded at C$18.34, with a volume of 9,288,804 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Whitecap Resources from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Desjardins lifted their price objective on Whitecap Resources from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. ATB Cormark Capital Markets upped their price objective on Whitecap Resources from C$19.00 to C$23.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. TD increased their target price on Whitecap Resources from C$18.00 to C$21.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Finally, Canaccord Genuity Group raised their target price on Whitecap Resources from C$23.00 to C$23.50 and gave the stock a “buy” rating in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$20.50.

Whitecap Resources Stock Performance

The company has a quick ratio of 0.67, a current ratio of 0.60 and a debt-to-equity ratio of 23.99. The stock has a market cap of C$22.31 billion, a price-to-earnings ratio of 14.44, a PEG ratio of -0.33 and a beta of 0.29. The stock’s fifty day moving average is C$18.74 and its 200-day moving average is C$15.95.

Whitecap Resources (TSE:WCP) last posted its earnings results on Wednesday, October 28th. The company reported C$0.27 earnings per share for the quarter. The company had revenue of C$2.14 billion for the quarter. Whitecap Resources had a net margin of 19.74% and a return on equity of 13.77%. On average, analysts forecast that Whitecap Resources Inc. will post 1.12 EPS for the current year.

Insider Buying and Selling at Whitecap Resources

In other Whitecap Resources news, insider Thanh Chan Kang purchased 5,000 shares of the stock in a transaction on Monday, November 2nd. The stock was bought at an average cost of C$18.78 per share, for a total transaction of C$93,900.00. Following the completion of the acquisition, the insider directly owned 484,275 shares of the company’s stock, valued at C$9,094,684.50. The trade was a 1.04% increase in their ownership of the stock. Also, Director Grant Bradley Fagerheim purchased 10,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were acquired at an average cost of C$18.73 per share, for a total transaction of C$187,300.00. Following the transaction, the director owned 3,308,099 shares of the company’s stock, valued at C$61,960,694.27. This trade represents a 0.30% increase in their ownership of the stock. Company insiders own 0.84% of the company’s stock.

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.