Whitecap Resources (TSE:WCP) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Whitecap Resources Inc. (TSE:WCP)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.13 and traded as high as C$9.35. Whitecap Resources shares last traded at C$9.24, with a volume of 4,241,797 shares.

Analysts Set New Price Targets

WCP has been the topic of several recent analyst reports. CIBC cut their price target on shares of Whitecap Resources from C$14.50 to C$13.00 in a report on Thursday, April 10th. Raymond James Financial upgraded shares of Whitecap Resources from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from C$12.00 to C$13.00 in a report on Thursday. Scotiabank upgraded shares of Whitecap Resources from a “sector perform” rating to an “outperform” rating and set a C$12.00 price target on the stock in a report on Thursday, May 22nd. Desjardins cut shares of Whitecap Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, June 3rd. Finally, National Bankshares lifted their price target on shares of Whitecap Resources from C$14.50 to C$15.00 and gave the company an “outperform” rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$13.00.

Whitecap Resources Trading Up 0.2%

The stock has a market cap of C$5.39 billion, a P/E ratio of 6.23, a PEG ratio of -0.33 and a beta of 2.67. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. The stock’s fifty day moving average price is C$8.70 and its 200 day moving average price is C$9.13.

Whitecap Resources Announces Dividend

The firm also recently announced a jun 25 dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.0608 per share. Whitecap Resources’s dividend payout ratio (DPR) is presently 49.25%.

Insider Activity

In related news, Director Grant Bradley Fagerheim purchased 10,000 shares of the stock in a transaction dated Wednesday, June 4th. The stock was purchased at an average price of C$8.72 per share, with a total value of C$87,200.00. Also, Director Bradley John Wall purchased 11,500 shares of the stock in a transaction dated Thursday, May 29th. The stock was bought at an average cost of C$8.77 per share, with a total value of C$100,855.00. In the last 90 days, insiders have acquired 65,000 shares of company stock worth $529,430. Corporate insiders own 0.84% of the company’s stock.

About Whitecap Resources

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.