Spartan Delta (TSE:SDE) Stock Gets Price Target Reduction from TD

Key Points

• TD lowered its price target for Spartan Delta from C$17 to C$16 but maintained a “buy” rating, implying 33.33% upside from the prior close.
• Analyst sentiment remains broadly positive: the stock has an average “Buy” rating and a C$14.48 average price target, with nine Buy, one Strong Buy, and one Hold recommendation.
• Spartan Delta shares fell 8.1% on Wednesday to C$12.00, with trading volume of about 2.35 million shares—more than three times its average volume.

Spartan Delta (TSE:SDE - Get Free Report) had its target price decreased by equities research analysts at TD from C$17.00 to C$16.00 in a report issued on Wednesday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. TD's price target points to a potential upside of 33.33% from the company's previous close.

Several other research analysts also recently weighed in on the company. Desjardins set a C$13.50 target price on Spartan Delta and gave the stock a "hold" rating in a research note on Friday, July 17th. Royal Bank Of Canada set a C$17.00 price target on Spartan Delta and gave the company a "moderate buy" rating in a research note on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of C$14.48.

Spartan Delta Stock Down 8.1%

Shares of TSE SDE traded down C$1.06 during trading hours on Wednesday, hitting C$12.00. 2,346,641 shares of the stock were exchanged, compared to its average volume of 743,009. Spartan Delta has a 12 month low of C$6.19 and a 12 month high of C$15.13. The firm has a fifty day moving average price of C$13.49 and a 200-day moving average price of C$12.02. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 30.41. The company has a market cap of C$2.46 billion, a PE ratio of 34.29 and a beta of 0.39.

Spartan Delta (TSE:SDE - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported C$0.02 earnings per share (EPS) for the quarter. The business had revenue of C$181.48 million for the quarter. Spartan Delta had a net margin of 13.77% and a return on equity of 10.71%. On average, sell-side analysts expect that Spartan Delta will post 0.31 EPS for the current year.

About Spartan Delta

Spartan is committed to creating value for its shareholders, focused on sustainability in both operations and financial performance. The Company's culture is centered on generating Free Funds Flow through responsible oil and gas exploration and development. The Company has established a portfolio of high-quality production and development opportunities in the Deep Basin and the Duvernay. Spartan will continue to focus on the execution of the Company's organic drilling program across its portfolio, delivering operational synergies in a respectful and responsible manner in relation to the environment and communities it operates in.

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