Whitecap Resources (TSE:WCP) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Whitecap Resources Inc. (TSE:WCP)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$10.18 and traded as high as C$10.24. Whitecap Resources shares last traded at C$10.05, with a volume of 3,425,937 shares trading hands.

Analyst Ratings Changes

Separately, National Bankshares reduced their target price 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, January 30th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$13.68.

Whitecap Resources Stock Performance

The company’s fifty day moving average is C$9.97 and its 200 day moving average is C$10.18. The company has a market capitalization of C$5.83 billion, a P/E ratio of 6.73, a P/E/G ratio of -0.33 and a beta of 2.67. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58.

Whitecap Resources Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 17th will be paid a $0.0608 dividend. This represents a $0.73 annualized dividend and a yield of 7.31%. The ex-dividend date is Friday, February 28th. Whitecap Resources’s dividend payout ratio is presently 49.25%.

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.