Southern Pacific Resource Corp. Stock Rating Reaffirmed by Pi Financial (STP)
Southern Pacific Resource Corp. (TSE:STP)‘s stock had its “buy” rating reiterated by stock analysts at Pi Financial in a report issued on Friday, AnalystRatings.Net reports. They currently have a C$0.50 price objective on the stock, down from their previous price objective of C$0.60. Pi Financial’s target price points to a potential upside of 132.56% from the company’s current price.
A number of other analysts have also recently weighed in on STP. Analysts at Raymond James upgraded shares of Southern Pacific Resource Corp. from a “market perform” rating to an “outperform” rating in a research note on Friday, March 28th. They now have a C$0.50 price target on the stock, up previously from C$0.30. Separately, analysts at TD Securities raised their price target on shares of Southern Pacific Resource Corp. from C$0.15 to C$0.20 in a research note on Thursday, March 27th. They now have a “reduce” rating on the stock. Finally, analysts at TD Securities downgraded shares of Southern Pacific Resource Corp. from a “hold” rating to a “reduce” rating in a research note on Tuesday, March 18th. They now have a C$0.15 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of C$0.57.
Southern Pacific Resource Corp. (TSE:STP) traded up 13.95% on Friday, hitting $0.245. 1,441,323 shares of the company’s stock traded hands. Southern Pacific Resource Corp. has a 52 week low of $0.105 and a 52 week high of $0.81. The stock has a 50-day moving average of $0.29 and a 200-day moving average of $0.2. The company’s market cap is $97.5 million.
Southern Pacific Resource Corp. (TSE:STP) is engaged in the acquisition and development of heavy oil and bitumen producing properties, with a focus on thermal extraction in-situ oil sands projects in the Western Canadian sedimentary basin.
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