Whitecap Resources (TSE:WCP) Stock Crosses Above 200-Day Moving Average of $9.69

Whitecap Resources Inc. (TSE:WCP)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.69 and traded as high as C$10.30. Whitecap Resources shares last traded at C$10.18, with a volume of 2,965,562 shares.

Analyst Ratings Changes

Several research analysts have commented on the company. Stifel Nicolaus lifted their target price on Whitecap Resources from C$12.75 to C$13.75 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. BMO Capital Markets increased their target price on shares of Whitecap Resources from C$13.00 to C$14.00 in a research report on Thursday, April 25th. Canaccord Genuity Group boosted their price target on shares of Whitecap Resources from C$14.00 to C$14.50 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Royal Bank of Canada lifted their target price on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, CIBC upped their price target on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Whitecap Resources has an average rating of “Buy” and a consensus price target of C$13.61.

Whitecap Resources Price Performance

The stock has a market capitalization of C$6.10 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of -0.33 and a beta of 2.77. The business’s 50 day simple moving average is C$10.23 and its two-hundred day simple moving average is C$9.69. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 26.11.

Whitecap Resources (TSE:WCP) last released its quarterly earnings results on Wednesday, April 24th. The company reported C$0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.14). The company had revenue of C$933.30 million for the quarter, compared to analyst estimates of C$787.00 million. Whitecap Resources had a net margin of 21.27% and a return on equity of 12.91%. As a group, sell-side analysts forecast that Whitecap Resources Inc. will post 1.0901468 earnings per share for the current fiscal year.

Whitecap Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Sunday, June 30th will be given a $0.061 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date of this dividend is Thursday, June 27th. Whitecap Resources’s payout ratio is currently 64.60%.

Insiders Place Their Bets

In other news, Senior Officer Thanh Chan Kang bought 2,970 shares of the stock in a transaction dated Monday, April 29th. The stock was bought at an average price of C$10.60 per share, for a total transaction of C$31,482.00. In other Whitecap Resources news, Director Grant Bradley Fagerheim bought 10,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were bought at an average cost of C$10.15 per share, for a total transaction of C$101,500.00. Also, Senior Officer Thanh Chan Kang purchased 2,970 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was bought at an average cost of C$10.60 per share, for a total transaction of C$31,482.00. Insiders have bought 37,970 shares of company stock valued at $393,582 in the last three months. 0.82% of the stock is currently owned by insiders.

About Whitecap Resources

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.