In a report released today, Randy Ollenberger from BMO Capital maintained a Buy rating on Whitecap Resources (SPGYF – Research Report), with a price target of C$14.00. The company’s shares closed last Thursday at $7.41.
According to TipRanks.com, Ollenberger is a 5-star analyst with an average return of 12.7% and a 53.9% success rate. Ollenberger covers the Utilities sector, focusing on stocks such as Crescent Point Energy, Birchcliff Energy, and Canadian Natural.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Whitecap Resources with a $12.20 average price target, implying a 64.6% upside from current levels. In a report issued on July 18, National Bank also maintained a Buy rating on the stock with a C$17.50 price target.
Based on Whitecap Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.06 billion and net profit of $652 million. In comparison, last year the company earned revenue of $472 million and had a net profit of $19.64 million.
Based on the recent corporate insider activity of 79 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Whitecap Resources, Inc. engages in the acquisition, development, and production of crude oil and natural gas. It focuses on the Boundary Lake, Valhalla, West Central Alberta, West Central Saskatchewan, and Southwest Saskatchewan. The company was founded by Grant B. Fagerheim on June 3, 2008 and is headquartered in Calgary, Canada.
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