BMO Capital Markets Boosts Spartan Delta (TSE:SDE) Price Target to C$16.00

Key Points

• BMO Capital Markets raised its price target on Spartan Delta to C$16.00 (from C$13.50) and maintains an "outperform" rating, implying roughly a 21% upside from the prior close.
• Multiple brokers have also bumped targets recently and the stock's consensus sits at a "Moderate Buy" with a consensus price target of C$13.52 based on nine Buy and one Hold ratings.
• Shares traded down 2.4% to C$13.22 on Wednesday with a market cap of C$2.68B; the company reported C($0.07) EPS for the quarter and has a P/E of 37.77.

Spartan Delta (TSE:SDE - Get Free Report) had its price target upped by investment analysts at BMO Capital Markets from C$13.50 to C$16.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' price target would suggest a potential upside of 21.03% from the company's previous close.

Other equities analysts also recently issued reports about the company. TD Securities upped their price target on Spartan Delta from C$9.50 to C$12.00 and gave the company a "buy" rating in a report on Tuesday, February 24th. Scotiabank upped their price target on Spartan Delta from C$8.00 to C$11.00 and gave the company an "outperform" rating in a report on Wednesday, January 21st. Ventum Financial upped their price target on Spartan Delta from C$10.50 to C$12.25 and gave the company a "buy" rating in a report on Tuesday, February 24th. National Bank Financial upped their price target on Spartan Delta from C$7.50 to C$9.00 and gave the company an "outperform" rating in a report on Tuesday, January 6th. Finally, Roth Mkm set a C$13.50 price target on Spartan Delta and gave the company a "buy" rating in a report on Wednesday, March 4th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$13.52.

Spartan Delta Stock Down 2.4%

Shares of Spartan Delta stock traded down C$0.33 on Wednesday, reaching C$13.22. 608,837 shares of the company were exchanged, compared to its average volume of 723,895. Spartan Delta has a 1-year low of C$2.61 and a 1-year high of C$14.00. The company has a market cap of C$2.68 billion, a P/E ratio of 37.77 and a beta of 0.05. The company has a debt-to-equity ratio of 29.03, a current ratio of 0.87 and a quick ratio of 0.66. The stock's 50 day moving average price is C$11.86 and its 200-day moving average price is C$9.14.

Spartan Delta (TSE:SDE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported C($0.07) EPS for the quarter. Spartan Delta had a return on equity of 11.57% and a net margin of 17.79%.The company had revenue of C$136.90 million for the quarter. As a group, equities analysts forecast that Spartan Delta will post 0.305004 EPS for the current year.

Spartan Delta Company Profile

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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