Whitecap Resources (TSE:WCP) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.25 and traded as high as C$10.35. Whitecap Resources shares last traded at C$10.35, with a volume of 2,015,725 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WCP shares. ATB Capital reduced their price target on shares of Whitecap Resources from C$15.00 to C$14.50 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Raymond James upgraded shares of Whitecap Resources to a "hold" rating in a report on Thursday, October 17th. Desjardins upped their target price 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. Canaccord Genuity Group cut their price target on Whitecap Resources from C$14.50 to C$14.00 in a research note on Tuesday, October 22nd. Finally, National Bankshares lowered their price objective on Whitecap Resources from C$15.50 to C$14.50 in a research note on Friday, September 27th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$13.61.

Whitecap Resources Price Performance

The stock has a market cap of C$6.17 billion, a PE ratio of 8.24, 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 quick ratio of 0.67 and a current ratio of 0.94. The business has a 50 day moving average price of C$10.16 and a two-hundred day moving average price of C$10.25.

Whitecap Resources Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be given a $0.0608 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.73 annualized dividend and a yield of 7.08%. Whitecap Resources's dividend payout ratio is currently 58.40%.

Insider Activity

In related news, Director Mary-Jo Case bought 5,000 shares of Whitecap Resources stock in a transaction dated Monday, October 28th. The stock was purchased at an average cost of C$10.44 per share, with a total value of C$52,200.00. Also, Senior Officer Joel Maxwell Armstrong purchased 10,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was bought at an average cost of C$10.43 per share, for a total transaction of C$104,300.00. Insiders acquired a total of 25,000 shares of company stock valued at $261,300 in the last ninety days. 0.84% of the stock is currently owned by 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.