Whitecap Resources (TSE:WCP) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

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 changing hands.

Analyst Ratings Changes

A number of research firms have commented on WCP. ATB Capital reduced 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 research report on Thursday, October 24th. Desjardins lifted 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. Finally, National Bankshares decreased their price target on shares of Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$13.68.

Whitecap Resources Stock Performance

The stock’s 50-day simple moving average is C$9.97 and its 200-day simple moving average is C$10.18. The stock has a market cap of C$5.87 billion, a price-to-earnings ratio of 6.78, a price-to-earnings-growth 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 business also recently declared a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 17th will be given a dividend of $0.0608 per share. This represents a $0.73 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date is Friday, February 28th. Whitecap Resources’s dividend payout ratio is currently 49.25%.

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.