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

Whitecap Resources Inc. (TSE:WCP)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.27 and traded as high as C$10.39. Whitecap Resources shares last traded at C$10.21, with a volume of 2,485,495 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Royal Bank of Canada raised shares of Whitecap Resources to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group cut their price target on Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating for the company in a report on Monday, September 16th. ATB Capital decreased their price objective on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a report on Thursday, October 24th. National Bankshares cut their target price on Whitecap Resources from C$15.50 to C$14.50 in a research note on Friday, September 27th. Finally, Raymond James upgraded shares of Whitecap Resources to a “hold” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$13.61.

Whitecap Resources Stock Performance

The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 23.55. The stock has a fifty day simple moving average of C$10.40 and a 200-day simple moving average of C$10.27. The company has a market capitalization of C$6.12 billion, a P/E ratio of 8.17, a PEG ratio of -0.33 and a beta of 2.67.

Whitecap Resources Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were given a $0.0608 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.73 dividend on an annualized basis and a yield of 7.15%. Whitecap Resources’s dividend payout ratio (DPR) is presently 58.40%.

Insiders Place Their Bets

In other Whitecap Resources news, Director Mary-Jo Case acquired 5,000 shares of Whitecap Resources stock in a transaction on Monday, October 28th. The shares were bought at an average price of C$10.44 per share, with a total value of C$52,200.00. Also, Senior Officer Thanh Chan Kang bought 10,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were acquired at an average price of C$10.48 per share, for a total transaction of C$104,800.00. Over the last ninety days, insiders have bought 25,000 shares of company stock valued at $261,300. 0.84% of the stock is currently owned by insiders.

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.