Anthony Linton, an analyst from Jefferies, maintained the Buy rating on Whitecap Resources (SPGYF – Research Report). The associated price target is C$12.00.
Anthony Linton has given his Buy rating due to a combination of factors including the strategic merger between Whitecap Resources and VRN, which has received shareholder approval and is set to close soon. This merger is expected to enhance Whitecap’s operational capabilities and financial stability, aligning with their capital priorities focused on strengthening the balance sheet and achieving sustainable growth.
Furthermore, the anticipated updated guidance for 2025 post-merger closure suggests a positive outlook for the company’s future performance. The targeted growth in production per share, alongside disciplined capital expenditures, positions Whitecap Resources favorably in the oil and gas sector, justifying the Buy rating.
In another report released on April 24, RBC Capital also maintained a Buy rating on the stock with a C$14.00 price target.
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.