Spartan Delta (TSE:SDE) Trading Down 2.5% - Here's Why

Key Points

• Spartan Delta shares fell 2.5% to C$13.48 in Friday trading, with volume down 59% from the average session.
• Analyst sentiment remains positive: the stock has a consensus “Buy” rating, supported by one Strong Buy, eight Buy, and one Hold ratings. Price targets include C$13.50 from Desjardins and C$17.00 from TD.
• For its latest quarter, Spartan Delta reported C$0.20 EPS and C$166.14 million in revenue, alongside a 13.77% net margin and 10.71% return on equity.

Spartan Delta Corp. (TSE:SDE - Get Free Report) shares fell 2.5% during trading on Friday . The company traded as low as C$13.38 and last traded at C$13.48. Approximately 299,065 shares traded hands during trading, a decline of 59% from the average session volume of 722,476 shares. The stock had previously closed at C$13.82.

Wall Street Analyst Weigh In

SDE has been the topic of a number of recent analyst reports. Scotiabank upgraded Spartan Delta to a "strong-buy" rating in a research report on Friday, June 26th. Desjardins set a C$13.50 price target on shares of Spartan Delta and gave the company a "hold" rating in a report on Friday, July 17th. Finally, TD boosted their price objective on shares of Spartan Delta from C$16.00 to C$17.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of C$13.84.

Spartan Delta Stock Performance

The company has a 50-day simple moving average of C$12.28 and a two-hundred day simple moving average of C$12.12. The company has a debt-to-equity ratio of 30.41, a quick ratio of 0.66 and a current ratio of 0.73. The firm has a market capitalization of C$2.77 billion, a P/E ratio of 38.51 and a beta of 0.24.

Spartan Delta (TSE:SDE - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported C$0.20 earnings per share (EPS) for the quarter. The firm had revenue of C$166.14 million during the quarter. Spartan Delta had a return on equity of 10.71% and a net margin of 13.77%. As a group, equities analysts forecast that Spartan Delta Corp. 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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