Whitecap Resources Inc. (OTCMKTS:SPGYF) Sees Significant Increase in Short Interest

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

Whitecap Resources Stock Down 1.1 %

OTCMKTS:SPGYF opened at $6.51 on Friday. The firm’s 50-day moving average price is $6.64 and its 200-day moving average price is $7.11. Whitecap Resources has a 1-year low of $5.47 and a 1-year high of $8.30.

Whitecap Resources Cuts Dividend

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

Analyst Upgrades and Downgrades

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

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.