Whitecap Resources (TSE:WCP) Shares Cross Above 200 Day Moving Average of $9.64

Whitecap Resources Inc. (TSE:WCP) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.64 and traded as high as C$10.28. Whitecap Resources shares last traded at C$10.23, with a volume of 2,010,943 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WCP. Stifel Nicolaus increased their price target on Whitecap Resources from C$12.75 to C$13.75 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada increased their price objective 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. CIBC increased their price objective on Whitecap Resources from C$14.00 to C$15.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Canaccord Genuity Group increased their price objective 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. Finally, BMO Capital Markets increased their price objective on Whitecap Resources from C$13.00 to C$14.00 in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Whitecap Resources presently has an average rating of “Buy” and an average price target of C$13.56.

Whitecap Resources Stock Performance

The company has a debt-to-equity ratio of 26.11, a quick ratio of 0.67 and a current ratio of 0.71. The stock has a fifty day simple moving average of C$10.28 and a two-hundred day simple moving average of C$9.64. The stock has a market capitalization of C$6.13 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of -0.33 and a beta of 2.77.

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

Whitecap Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be given a dividend of $0.061 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 7.16%. Whitecap Resources’s dividend payout ratio (DPR) is presently 64.60%.

Insider Transactions at Whitecap Resources

In related news, Senior Officer Thanh Chan Kang acquired 2,970 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were bought at an average price of C$10.60 per share, with a total value of C$31,482.00. In other Whitecap Resources news, Director Grant Bradley Fagerheim purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were acquired 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 purchased 2,970 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average cost of C$10.60 per share, for a total transaction of C$31,482.00. Insiders have purchased 37,970 shares of company stock valued at $393,582 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

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.