Short Interest in Whitecap Resources Inc (OTCMKTS:SPGYF) Expands By 56.2%

Whitecap Resources Inc (OTCMKTS:SPGYF) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 3,030,500 shares, an increase of 56.2% from the August 15th total of 1,939,700 shares. Based on an average daily volume of 126,300 shares, the days-to-cover ratio is currently 24.0 days.

OTCMKTS:SPGYF opened at $1.93 on Wednesday. Whitecap Resources has a 1 year low of $0.50 and a 1 year high of $4.37. The stock has a fifty day moving average price of $1.91 and a two-hundred day moving average price of $1.58.

A number of research analysts have recently commented on the stock. Tudor Pickering restated a “hold” rating and issued a $3.00 price target on shares of Whitecap Resources in a report on Tuesday, September 1st. Royal Bank of Canada increased their price objective on shares of Whitecap Resources from $3.00 to $3.25 and gave the company an “outperform” rating in a research report on Tuesday, September 1st. Raymond James reissued a “buy” rating and set a $4.00 price target on shares of Whitecap Resources in a research report on Tuesday, September 1st. TD Securities raised their price objective on shares of Whitecap Resources from $3.25 to $3.50 and gave the stock a “buy” rating in a research note on Tuesday, September 1st. Finally, CIBC lifted their price target on shares of Whitecap Resources from $3.50 to $3.75 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Whitecap Resources presently has a consensus rating of “Buy” and an average price target of $3.46.

Whitecap Resources Company Profile

Whitecap Resources Inc acquires and develops petroleum and natural gas properties in Canada. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southeast Saskatchewan. Whitecap Resources Inc is headquartered in Calgary, Canada.

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