Whitecap Resources (TSE:WCP) Shares Cross Above 200 Day Moving Average of $9.81

Whitecap Resources Inc. (TSE:WCP)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.81 and traded as high as C$10.10. Whitecap Resources shares last traded at C$9.94, with a volume of 2,034,265 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Canaccord Genuity Group boosted their price target on Whitecap Resources from C$14.00 to C$14.50 and gave the company a “buy” rating in a report on Thursday, April 25th. Scotiabank boosted their price target on Whitecap Resources from C$12.00 to C$13.00 in a report on Friday, July 12th. Royal Bank of Canada boosted their price target on Whitecap Resources from C$13.00 to C$14.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Stifel Nicolaus boosted their price target on Whitecap Resources from C$12.75 to C$13.75 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, BMO Capital Markets boosted their price target on Whitecap Resources from C$13.00 to C$14.00 in a report on Thursday, April 25th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Whitecap Resources presently has a consensus rating of “Buy” and an average price target of C$13.61.

Whitecap Resources Trading Up 1.6 %

The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 26.11. The company has a fifty day simple moving average of C$10.18 and a 200-day simple moving average of C$9.83. The company has a market capitalization of C$6.28 billion, a PE ratio of 9.27, a PEG ratio of -0.33 and a beta of 2.77.

Whitecap Resources (TSE:WCP) last issued its earnings results on Wednesday, April 24th. The company reported C$0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.24 by C($0.14). The company had revenue of C$933.30 million during the quarter, compared to analysts’ expectations of C$787.00 million. Whitecap Resources had a net margin of 21.27% and a return on equity of 12.91%. Analysts predict that Whitecap Resources Inc. will post 1.0901468 EPS for the current year.

Whitecap Resources Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a $0.0608 dividend. This represents a $0.73 annualized dividend and a dividend yield of 6.96%. The ex-dividend date is Wednesday, July 31st. Whitecap Resources’s dividend payout ratio (DPR) is presently 64.60%.

Insider Activity

In other Whitecap Resources news, Senior Officer Thanh Chan Kang purchased 2,970 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were acquired at an average price of C$10.60 per share, with a total value of C$31,482.00. In other news, Director Grant Bradley Fagerheim bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were purchased at an average price of C$10.69 per share, with a total value of C$106,900.00. Also, Senior Officer Thanh Chan Kang bought 2,970 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were purchased at an average cost of C$10.60 per share, for a total transaction of C$31,482.00. Insiders have acquired a total of 52,970 shares of company stock valued at $542,582 in the last quarter. Insiders own 0.82% 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.