Whitecap Resources Inc. (OTCMKTS:SPGYF) Sees Large Growth in Short Interest

Whitecap Resources Inc. (OTCMKTS:SPGYF) was the target of a significant 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 daily trading volume, of 1,131,400 shares, the days-to-cover ratio is currently 24.9 days.

Whitecap Resources Stock Performance

Shares of OTCMKTS SPGYF traded down $0.07 during mid-day trading on Friday, reaching $6.51. The company had a trading volume of 181,468 shares, compared to its average volume of 380,583. The company has a 50-day moving average price of $6.64 and a two-hundred day moving average price of $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 business also recently disclosed a dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.0423 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a yield of 7.77%. Whitecap Resources’s payout ratio is presently 47.33%.

Analyst Upgrades and Downgrades

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.