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

Whitecap Resources Inc. (OTCMKTS:SPGYF) was the recipient 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 volume of 1,131,400 shares, the days-to-cover ratio is presently 24.9 days.

Whitecap Resources Stock Performance

OTCMKTS SPGYF traded down $0.06 during trading hours on Friday, hitting $6.58. The company had a trading volume of 234,469 shares, compared to its average volume of 384,167. The business has a 50 day moving average of $6.65 and a 200-day moving average 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 company also recently announced 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 is Monday, March 31st. This represents a dividend yield of 7.77%. Whitecap Resources’s dividend payout ratio (DPR) is presently 47.33%.

Wall Street Analyst Weigh In

Separately, Desjardins reissued a “buy” rating on shares of Whitecap Resources in a 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.