Whitecap Resources (SPGYF) Gets a Buy from RBC Capital

RBC Capital analyst Michael Harvey maintained a Buy rating on Whitecap Resources (SPGYF – Research Report) yesterday and set a price target of C$14.00. The company’s shares closed yesterday at $6.03.

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According to TipRanks, Harvey is a 5-star analyst with an average return of 13.2% and a 50.51% success rate. Harvey covers the Energy sector, focusing on stocks such as Whitecap Resources, ARC Resources, and Advantage Energy.

Currently, the analyst consensus on Whitecap Resources is a Strong Buy with an average price target of $9.17, which is a 52.07% upside from current levels. In a report released yesterday, Jefferies 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 March 31, the company reported a quarterly revenue of $1.01 billion and a net profit of $162.6 million. In comparison, last year the company earned a revenue of $787.7 million and had a net profit of $59.8 million

Based on the recent corporate insider activity of 46 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.