Whitecap Resources (SPGYF) Receives a Buy from RBC Capital

In a report released on April 3, Michael Harvey from RBC Capital maintained a Buy rating on Whitecap Resources (SPGYF – Research Report), with a price target of C$14.00. The company’s shares closed yesterday at $5.44.

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According to TipRanks, Harvey is a 5-star analyst with an average return of 14.2% and a 51.76% success rate. Harvey covers the Energy sector, focusing on stocks such as Birchcliff Energy, Paramount Resources, and Kelt Exploration.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Whitecap Resources with a $9.50 average price target, which is a 74.63% upside from current levels. In a report released on March 19, Desjardins also maintained a Buy rating on the stock with a C$12.00 price target.

Based on Whitecap Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1 billion and a net profit of $233.8 million. In comparison, last year the company earned a revenue of $990 million and had a net profit of $298.3 million

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SPGYF in relation to earlier this year.