Whitecap Resources (TSE:WCP) Stock Passes Above 200 Day Moving Average - Here's Why

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$10.28 and traded as high as C$10.45. Whitecap Resources shares last traded at C$10.38, with a volume of 1,921,933 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WCP shares. Jefferies Financial Group decreased their price objective on shares of Whitecap Resources from C$12.00 to C$11.00 and set a "buy" rating for the company in a report on Monday, September 16th. Desjardins lifted their price objective on shares of Whitecap Resources from C$12.75 to C$13.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Royal Bank of Canada raised shares of Whitecap Resources to a "moderate buy" rating in a report on Friday, July 26th. National Bankshares decreased their price objective on shares of Whitecap Resources from C$15.50 to C$14.50 in a report on Friday, September 27th. Finally, ATB Capital decreased their price objective on shares of Whitecap Resources from C$15.00 to C$14.50 and set an "outperform" rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Whitecap Resources currently has a consensus rating of "Moderate Buy" and an average target price of C$13.61.

Whitecap Resources Trading Up 0.4 %

The company has a market cap of C$6.24 billion, a price-to-earnings ratio of 8.29, a P/E/G ratio of -0.33 and a beta of 2.67. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67. The firm's fifty day moving average price is C$10.38 and its 200-day moving average price is C$10.28.

Whitecap Resources Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.0608 per share. This represents a $0.73 annualized dividend and a dividend yield of 7.00%. The ex-dividend date is Thursday, October 31st. Whitecap Resources's dividend payout ratio (DPR) is 58.40%.

Insider Buying and Selling

In related news, Director Grant Bradley Fagerheim sold 20,000 shares of the company's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$10.22, for a total value of C$204,400.00. In related news, Director Mary-Jo Case acquired 5,000 shares of Whitecap Resources stock in a transaction that occurred on Monday, October 28th. The stock was acquired at an average price of C$10.44 per share, with a total value of C$52,200.00. Also, Director Grant Bradley Fagerheim sold 20,000 shares of the company's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$10.22, for a total transaction of C$204,400.00. Corporate insiders own 0.84% of the company's stock.

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.