Whitecap Resources (OTCMKTS:SPGYF) Shares Cross Below Fifty Day Moving Average – Here’s Why

Whitecap Resources Inc. (OTCMKTS:SPGYF) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $6.37 and traded as low as $5.50. Whitecap Resources shares last traded at $5.58, with a volume of 379,486 shares changing hands.

Analyst Upgrades and Downgrades

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

Whitecap Resources Stock Performance

The business’s 50 day moving average is $6.32 and its 200 day moving average is $6.93.

Whitecap Resources Cuts Dividend

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

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.