Whitecap Resources (OTCMKTS:SPGYF) Share Price Passes Below 50-Day Moving Average – Should You Sell?

Whitecap Resources Inc. (OTCMKTS:SPGYF)’s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $6.72 and traded as low as $6.30. Whitecap Resources shares last traded at $6.48, with a volume of 524,120 shares traded.

Wall Street Analyst Weigh In

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

Whitecap Resources Trading Up 0.8 %

The company has a 50 day simple moving average of $6.70 and a 200 day simple moving average of $7.14.

Whitecap Resources Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.0427 dividend. This represents a yield of 7.49%. This is a positive change from Whitecap Resources’s previous dividend of $0.04. The ex-dividend date of this dividend was Friday, February 28th. Whitecap Resources’s dividend payout ratio is presently 47.33%.

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.