Whitecap Resources (TSE:WCP) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Whitecap Resources Inc. (TSE:WCP)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$9.61 and traded as high as C$10.65. Whitecap Resources shares last traded at C$10.55, with a volume of 5,282,723 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on WCP shares. Desjardins upped their target price on Whitecap Resources from C$13.00 to C$13.50 and gave the stock a “buy” rating in a research report on Friday, October 24th. Scotiabank upped their target price on Whitecap Resources from C$12.00 to C$14.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. National Bankshares lowered their target price on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Raymond James Financial upped their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 23rd. Finally, TD Securities upped their price target on Whitecap Resources from C$13.00 to C$14.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$14.00.

Whitecap Resources Price Performance

The company has a fifty day moving average of C$10.56 and a 200-day moving average of C$9.61. The firm has a market cap of C$12.81 billion, a P/E ratio of 9.34, a P/E/G ratio of -0.33 and a beta of 0.66. The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67.

Whitecap Resources Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 17th will be paid a $0.0608 dividend. This represents a c) dividend on an annualized basis and a yield of 6.9%. The ex-dividend date is Friday, October 31st. Whitecap Resources’s dividend payout ratio is 64.57%.

Insider Transactions at Whitecap Resources

In other Whitecap Resources news, Director Grant Bradley Fagerheim acquired 15,000 shares of Whitecap Resources stock in a transaction on Friday, October 10th. The stock was purchased at an average price of C$10.60 per share, for a total transaction of C$159,000.00. Following the purchase, the director directly owned 3,220,745 shares of the company’s stock, valued at C$34,139,897. This trade represents a 0.47% increase in their ownership of the stock. 0.84% of the stock is owned by company insiders.

Whitecap Resources Company Profile

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.