Whitecap Resources (TSE:WCP) Stock Price Crosses Above 200-Day Moving Average of $9.69

Whitecap Resources Inc. (TSE:WCP)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$9.69 and traded as high as C$10.30. Whitecap Resources shares last traded at C$10.18, with a volume of 2,965,562 shares.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WCP. Stifel Nicolaus increased their target price on shares of Whitecap Resources from C$12.75 to C$13.75 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. CIBC raised their price objective on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. BMO Capital Markets raised their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 in a report on Thursday, April 25th. Royal Bank of Canada raised their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Finally, Canaccord Genuity Group raised their price objective on shares of Whitecap Resources from C$14.00 to C$14.50 and gave the stock a “buy” rating in a report on Thursday, April 25th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$13.61.

Whitecap Resources Stock Up 0.8 %

The stock’s 50 day simple moving average is C$10.22 and its two-hundred day simple moving average is C$9.69. The firm has a market cap of C$6.14 billion, a P/E ratio of 9.00, a P/E/G ratio of -0.33 and a beta of 2.77. The company has a debt-to-equity ratio of 26.11, a current ratio of 0.71 and a quick ratio of 0.67.

Whitecap Resources (TSE:WCP) last released its earnings results on Wednesday, April 24th. The company reported C$0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.24 by C($0.14). The firm had revenue of C$933.30 million during the quarter, compared to analysts’ expectations of C$787.00 million. Whitecap Resources had a return on equity of 12.91% and a net margin of 21.27%. As a group, research analysts forecast that Whitecap Resources Inc. will post 1.0901468 earnings per share for the current year.

Whitecap Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Sunday, June 30th will be issued a $0.061 dividend. This represents a $0.73 annualized dividend and a yield of 7.14%. The ex-dividend date is Thursday, June 27th. Whitecap Resources’s dividend payout ratio is 64.60%.

Insider Buying and Selling

In other Whitecap Resources news, Director Grant Bradley Fagerheim purchased 10,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was acquired at an average cost of C$10.15 per share, for a total transaction of C$101,500.00. In other Whitecap Resources news, Senior Officer Thanh Chan Kang purchased 2,970 shares of the company’s stock in a transaction on Monday, April 29th. The stock was acquired at an average cost of C$10.60 per share, for a total transaction of C$31,482.00. Also, Director Grant Bradley Fagerheim purchased 10,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was acquired at an average price of C$10.15 per share, with a total value of C$101,500.00. In the last ninety days, insiders bought 37,970 shares of company stock valued at $393,582. 0.82% of the stock is owned by corporate 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.