Whitecap Resources (TSE:WCP) Share Price Passes Above Two Hundred Day Moving Average of $10.10

Whitecap Resources Inc. (TSE:WCP) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$10.10 and traded as high as C$10.58. Whitecap Resources shares last traded at C$10.49, with a volume of 2,778,072 shares trading hands.

Wall Street Analysts Forecast Growth

WCP has been the topic of several research reports. Royal Bank of Canada upgraded Whitecap Resources to a “moderate buy” rating in a research note on Friday, July 26th. Scotiabank boosted their target price on Whitecap Resources from C$12.00 to C$13.00 in a research report on Friday, July 12th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Whitecap Resources has an average rating of “Buy” and an average target price of C$13.61.

Whitecap Resources Stock Performance

The company has a debt-to-equity ratio of 23.55, a quick ratio of 0.67 and a current ratio of 0.94. The business has a 50 day moving average price of C$10.21 and a two-hundred day moving average price of C$10.11. The company has a market cap of C$6.15 billion, a P/E ratio of 8.21, a price-to-earnings-growth ratio of -0.33 and a beta of 2.71.

Whitecap Resources (TSE:WCP) last released its quarterly earnings results on Wednesday, July 24th. The company reported C$0.41 EPS for the quarter, beating analysts’ consensus estimates of C$0.29 by C$0.12. The business had revenue of C$1.05 billion during the quarter, compared to analyst estimates of C$946.00 million. Whitecap Resources had a return on equity of 13.89% and a net margin of 22.43%. On average, sell-side analysts anticipate that Whitecap Resources Inc. will post 1.0211055 earnings per share for the current year.

Whitecap Resources Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Saturday, August 31st will be given a dividend of $0.061 per share. This is a positive change from Whitecap Resources’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.73 dividend on an annualized basis and a yield of 7.13%. Whitecap Resources’s dividend payout ratio is presently 58.40%.

Insiders Place Their Bets

In other Whitecap Resources news, Director Grant Bradley Fagerheim sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of C$10.22, for a total transaction of C$204,400.00. In other Whitecap Resources news, Director Grant Bradley Fagerheim sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of C$10.22, for a total transaction of C$204,400.00. Also, Director Chandra Henry bought 10,000 shares of Whitecap Resources stock in a transaction on Wednesday, July 10th. The shares were purchased at an average price of C$10.00 per share, for a total transaction of C$100,000.00. In the last quarter, insiders have bought 30,000 shares of company stock worth $303,400. Company insiders own 0.82% of the company’s stock.

About Whitecap Resources

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.