Whitecap Resources (OTCMKTS:SPGYF) Shares Pass Above 50 Day Moving Average – Should You Sell?

Shares of Whitecap Resources Inc. (OTCMKTS:SPGYF) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $5.93 and traded as high as $6.15. Whitecap Resources shares last traded at $6.13, with a volume of 4,742,593 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently commented on SPGYF. Raymond James reissued an “outperform” rating on shares of Whitecap Resources in a research note on Tuesday. National Bankshares reaffirmed an “outperform” rating on shares of Whitecap Resources in a report on Tuesday. Finally, Desjardins reaffirmed a “buy” rating on shares of Whitecap Resources in a research report on Tuesday, March 11th.

Whitecap Resources Trading Up 0.3%

The firm’s fifty day moving average price is $5.93 and its two-hundred day moving average price is $6.65.

Whitecap Resources Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.0437 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This is a positive change from Whitecap Resources’s previous dividend of $0.04. This represents a yield of 8.89%. Whitecap Resources’s payout ratio is currently 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.