Whitecap Resources (TSE:WCP) Shares Cross Above 200 Day Moving Average of $9.68

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$9.68 and traded as high as C$10.74. Whitecap Resources shares last traded at C$10.63, with a volume of 3,113,322 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WCP shares. Desjardins boosted their price objective on Whitecap Resources from C$11.00 to C$11.50 and gave the company a “buy” rating in a research note on Friday, February 23rd. BMO Capital Markets set a C$13.00 price objective on Whitecap Resources and gave the company an “outperform” rating in a research note on Thursday, March 21st. Stifel Nicolaus boosted their price objective on Whitecap Resources from C$12.25 to C$12.75 and gave the company a “buy” rating in a research note on Thursday, February 22nd. National Bankshares dropped their price target on Whitecap Resources from C$18.50 to C$15.00 and set an “outperform” rating for the company in a research note on Wednesday, January 10th. Finally, Raymond James dropped their price target on Whitecap Resources from C$15.50 to C$13.00 and set a “strong-buy” rating for the company in a research note on Friday, January 19th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Whitecap Resources presently has an average rating of “Buy” and an average target price of C$13.35.

Whitecap Resources Stock Up 1.5 %

The company has a debt-to-equity ratio of 25.25, a quick ratio of 0.67 and a current ratio of 0.90. The company has a fifty day moving average price of C$9.63 and a 200-day moving average price of C$9.67. The firm has a market capitalization of C$6.36 billion, a PE ratio of 7.28, a PEG ratio of -0.33 and a beta of 2.81.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings results on Wednesday, February 21st. The company reported C$0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.19. Whitecap Resources had a return on equity of 16.89% and a net margin of 27.52%. The business had revenue of C$914.10 million for the quarter. As a group, analysts expect that Whitecap Resources Inc. will post 1.2846626 earnings per share for the current year.

Whitecap Resources Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, April 15th. Stockholders of record on Sunday, March 31st will be given a dividend of $0.061 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date of this dividend is Wednesday, March 27th. Whitecap Resources’s payout ratio is 44.52%.

Insider Activity at Whitecap Resources

In related news, Director Grant Bradley Fagerheim acquired 3,723 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were bought at an average price of C$8.17 per share, with a total value of C$30,416.91. 0.74% of the stock is owned by corporate insiders.

Whitecap Resources Company Profile

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.