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

by · The Markets Daily

Whitecap Resources Inc. (TSE:WCP – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$10.47 and traded as high as C$11.52. Whitecap Resources shares last traded at C$11.48, with a volume of 883,381 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Tudor Pickering raised Whitecap Resources to a “strong-buy” rating in a research note on Wednesday, October 15th. Desjardins lifted their price objective on Whitecap Resources from C$13.00 to C$13.50 and gave the company a “buy” rating in a research note on Friday, October 24th. Raymond James Financial upped their target price on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 23rd. National Bankshares set a C$15.00 target price on shares of Whitecap Resources and gave the company an “outperform” rating in a report on Wednesday, November 26th. Finally, Capital One Financial upgraded shares of Whitecap Resources to a “strong-buy” rating in a research note on Monday, October 27th. Four research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$14.08.

Read Our Latest Stock Report on Whitecap Resources

Whitecap Resources Price Performance

The stock has a fifty day simple moving average of C$11.13 and a 200-day simple moving average of C$10.47. The company has a market capitalization of C$13.94 billion, a PE ratio of 10.16, a P/E/G ratio of -0.33 and a beta of 0.55. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58.

Whitecap Resources (TSE:WCP – Get Free Report) last issued its earnings results on Wednesday, October 22nd. The company reported C$0.17 earnings per share for the quarter. The business had revenue of C$1.55 billion for the quarter. Whitecap Resources had a return on equity of 15.86% and a net margin of 24.23%. Equities analysts anticipate that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current year.

Whitecap Resources Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, November 17th. Shareholders 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 6.4%. Whitecap Resources’s dividend payout ratio (DPR) is presently 64.57%.

Insider Buying and Selling at Whitecap Resources

In related news, Director Grant Bradley Fagerheim bought 15,000 shares of the stock in a transaction dated Friday, October 10th. The stock was acquired at an average price of C$10.60 per share, for a total transaction of C$159,000.00. Following the acquisition, the director owned 3,220,745 shares in the company, valued at approximately C$34,139,897. This represents a 0.47% increase in their position. Also, Director Bradley John Wall bought 2,800 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was bought 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. The trade was a 280.00% increase in their ownership of the stock. Corporate insiders own 0.84% of the company’s stock.

Whitecap Resources Company Profile

(Get Free Report)

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.

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