Whitecap Resources (SPGYF) Receives a Buy from RBC Capital

RBC Capital analyst Luke Davis maintained a Buy rating on Whitecap Resources (SPGYFResearch Report) on July 28 and set a price target of C$16.00. The company’s shares closed last Friday at $7.65.

According to TipRanks.com, Davis is a top 100 analyst with an average return of 36.8% and a 64.5% success rate. Davis covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Headwater Exploration, and Gran Tierra Energy.

Whitecap Resources has an analyst consensus of Strong Buy, with a price target consensus of $12.40, representing a 63.4% upside. In a report issued on July 18, National Bank also maintained a Buy rating on the stock with a C$17.50 price target.

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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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