Whitecap Resources (OTCMKTS:SPGYF) Shares Cross Below 200-Day Moving Average – Should You Sell?

Whitecap Resources Inc. (OTCMKTS:SPGYF)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.86 and traded as low as $5.86. Whitecap Resources shares last traded at $5.90, with a volume of 360,091 shares changing hands.

Wall Street Analyst Weigh In

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

Whitecap Resources Price Performance

The firm’s 50 day moving average price is $6.22 and its 200-day moving average price is $6.86.

Whitecap Resources Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.0437 per share. This is an increase from Whitecap Resources’s previous dividend of $0.04. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a dividend yield of 8.89%. Whitecap Resources’s 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.