Whitecap Resources (TSE:WCP) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Whitecap Resources Inc. (TSE:WCP)’s share price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$16.07 and traded as high as C$18.40. Whitecap Resources shares last traded at C$18.13, with a volume of 5,161,709 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on WCP. TD raised their target price on shares of Whitecap Resources from C$18.00 to C$21.00 and gave the company a “buy” rating in a research report on Friday, September 11th. National Bank Financial lifted their price objective on shares of Whitecap Resources from C$25.00 to C$26.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Finally, Desjardins set a C$22.00 price objective on shares of Whitecap Resources and gave the stock a “buy” rating in a research note on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to data from MarketBeat, Whitecap Resources currently has an average rating of “Buy” and a consensus target price of C$18.82.

Whitecap Resources Stock Performance

The firm has a market cap of C$22.53 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of -0.33 and a beta of 0.21. The company has a debt-to-equity ratio of 24.14, a current ratio of 0.56 and a quick ratio of 0.67. The firm has a fifty day simple moving average of C$17.39 and a two-hundred day simple moving average of C$16.10.

Whitecap Resources (TSE:WCP) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$0.73 EPS for the quarter. The business had revenue of C$2.35 billion for the quarter. Whitecap Resources had a net margin of 19.66% and a return on equity of 12.87%. On average, analysts expect that Whitecap Resources Inc. will post 1.1226131 EPS for the current year.

Whitecap Resources Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were issued a dividend of $0.0608 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.73 dividend on an annualized basis and a yield of 3.9%. Whitecap Resources’s dividend payout ratio is 65.14%.

Insider Activity

In other Whitecap Resources news, insider Joseph Adam Wong purchased 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was purchased at an average price of C$14.46 per share, for a total transaction of C$108,450.00. Following the purchase, the insider directly owned 111,416 shares in the company, valued at approximately C$1,611,075.36. This trade represents a 7.22% increase in their ownership of the stock. Also, Director Grant Bradley Fagerheim bought 10,000 shares of Whitecap Resources stock in a transaction dated Monday, July 6th. The shares were acquired at an average cost of C$14.46 per share, with a total value of C$144,600.00. Following the completion of the purchase, the director owned 3,308,099 shares in the company, valued at approximately C$47,835,111.54. This trade represents a 0.30% increase in their ownership of the stock. 0.84% of the stock is owned by 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.