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 Tuesday . The stock has a 200-day moving average of C$13.40 and traded as high as C$16.53. Whitecap Resources shares last traded at C$16.53, with a volume of 4,530,039 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. ATB Cormark Capital Markets increased their price objective on shares of Whitecap Resources from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Desjardins increased their price objective on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Raymond James Financial increased their price objective on shares of Whitecap Resources from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Scotia increased their price objective on shares of Whitecap Resources from C$17.00 to C$19.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 30th. Finally, TD increased their price objective on shares of Whitecap Resources from C$17.00 to C$18.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to MarketBeat, Whitecap Resources presently has a consensus rating of “Buy” and an average price target of C$17.00.

Whitecap Resources Price Performance

The firm has a market capitalization of C$20.37 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of -0.33 and a beta of 0.38. The company’s 50 day moving average is C$15.53 and its 200-day moving average is C$13.49. The company has a current ratio of 0.54, a quick ratio of 0.67 and a debt-to-equity ratio of 33.01.

Whitecap Resources (TSE:WCP) last issued its earnings results on Wednesday, April 29th. The company reported C$0.02 earnings per share (EPS) for the quarter. Whitecap Resources had a net margin of 13.32% and a return on equity of 7.70%. The business had revenue of C$1.84 billion during the quarter. Equities research analysts anticipate that Whitecap Resources Inc. will post 1.1226131 earnings per share for the current year.

Whitecap Resources Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were paid a $0.0608 dividend. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date was Thursday, April 30th. Whitecap Resources’s dividend payout ratio (DPR) is 99.95%.

Insider Activity

In related news, Director Grant Bradley Fagerheim sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of C$13.76, for a total value of C$68,800.00. Following the completion of the sale, the director directly owned 3,278,099 shares in the company, valued at approximately C$45,106,642.24. This trade represents a 0.15% decrease in their position. Also, insider Travis Bjarne Tweit bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 25th. The stock was purchased at an average price of C$16.42 per share, with a total value of C$49,260.00. Following the completion of the purchase, the insider directly owned 227,204 shares in the company, valued at C$3,730,689.68. The trade was a 1.34% increase in their position. Insiders sold a total of 6,100 shares of company stock valued at $83,826 over the last quarter. 0.84% of the stock is currently owned by company insiders.

Whitecap Resources Company Profile

Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.