Short Interest in Whitecap Resources Inc. (OTCMKTS:SPGYF) Grows By 137.5%

Whitecap Resources Inc. (OTCMKTS:SPGYF) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 28,133,600 shares, an increase of 137.5% from the February 28th total of 11,848,200 shares. Based on an average daily trading volume, of 1,131,400 shares, the days-to-cover ratio is currently 24.9 days.

Whitecap Resources Stock Down 0.9 %

Shares of OTCMKTS SPGYF traded down $0.06 during midday trading on Friday, hitting $6.58. The company had a trading volume of 234,469 shares, compared to its average volume of 384,167. Whitecap Resources has a twelve month low of $5.47 and a twelve month high of $8.30. The business has a 50-day simple moving average of $6.65 and a two-hundred day simple moving average of $7.11.

Whitecap Resources Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.0423 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 7.77%. Whitecap Resources’s dividend payout ratio is presently 47.33%.

Wall Street Analyst Weigh In

Separately, Desjardins reiterated a “buy” rating on shares of Whitecap Resources in a research report on Tuesday, March 11th.

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.