Whitecap Resources (TSE:WCP) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Whitecap Resources Inc. (TSE:WCP)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$9.13 and traded as high as C$10.20. Whitecap Resources shares last traded at C$10.20, with a volume of 5,272,216 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on WCP shares. Desjardins lowered shares of Whitecap Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, June 3rd. National Bank Financial upgraded shares of Whitecap Resources to a “strong-buy” rating in a research note on Monday, May 12th. National Bankshares boosted 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 research note on Thursday, May 22nd. Scotiabank upgraded shares of Whitecap Resources from a “sector perform” rating to an “outperform” rating and set a C$12.00 price target for the company in a research note on Thursday, May 22nd. Finally, Raymond James Financial boosted their price target on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Whitecap Resources has a consensus rating of “Buy” and an average price target of C$13.13.

Whitecap Resources Stock Performance

The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58. The company’s 50-day moving average is C$9.82 and its two-hundred day moving average is C$9.13. The company has a market capitalization of C$5.96 billion, a P/E ratio of 6.88, a PEG ratio of -0.33 and a beta of 2.67.

Whitecap Resources Announces Dividend

The business also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Sunday, August 31st will be given a $0.0608 dividend. Whitecap Resources’s dividend payout ratio (DPR) is 49.25%.

Insider Activity at Whitecap Resources

In related news, Director Bradley John Wall acquired 11,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were bought at an average cost of C$8.77 per share, for a total transaction of C$100,855.00. Also, Director Grant Bradley Fagerheim acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The stock was bought at an average price of C$9.43 per share, for a total transaction of C$141,450.00. Over the last 90 days, insiders purchased 41,500 shares of company stock worth $383,055. 0.84% of the stock is owned by company insiders.

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.