Spartan Delta Corp. (TSE:SDE) Given Consensus Rating of "Buy" by Analysts

Key Points

• Analysts are broadly bullish: Spartan Delta has a consensus “Buy” rating from 10 brokerages, with eight buys, one strong buy and one hold. The average 12-month price target is C$13.84, while several firms recently raised targets to between C$15 and C$17.
• Shares opened at C$13.17, up 3.1%: The company has a C$2.70 billion market capitalization and trades near its 12-month high of C$14.40, compared with a low of C$4.72.
• Spartan Delta reported quarterly earnings of C$0.20 per share on revenue of C$166.14 million. Insider Robert John Day sold 6,191 shares, while insiders collectively retain 12.43% of the company.

Spartan Delta Corp. (TSE:SDE - Get Free Report) has earned a consensus rating of "Buy" from the ten brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is C$13.84.

A number of brokerages have commented on SDE. National Bank Financial lifted their price target on Spartan Delta from C$15.50 to C$16.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. BMO Capital Markets lifted their target price on shares of Spartan Delta from C$13.50 to C$16.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Scotiabank upgraded shares of Spartan Delta to a "strong-buy" rating in a report on Friday, June 26th. ATB Cormark Capital Markets raised shares of Spartan Delta from a "sector perform" rating to an "outperform" rating and increased their price target for the company from C$13.25 to C$17.00 in a research report on Wednesday, May 6th. Finally, Ventum Capital raised their price target on shares of Spartan Delta from C$14.50 to C$15.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th.

Spartan Delta Stock Up 3.1%

Shares of TSE:SDE opened at C$13.17 on Wednesday. The stock has a market capitalization of C$2.70 billion, a P/E ratio of 37.63 and a beta of 0.26. The stock's 50-day moving average price is C$11.63 and its 200-day moving average price is C$11.67. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 30.41. Spartan Delta has a 12-month low of C$4.72 and a 12-month high of C$14.40.

Spartan Delta (TSE:SDE - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported C$0.20 earnings per share for the quarter. The company 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%. On average, equities analysts anticipate that Spartan Delta will post 0.305004 earnings per share for the current year.

Insider Activity

In related news, insider Robert John Day sold 6,191 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of C$11.91, for a total transaction of C$73,734.81. Following the transaction, the insider owned 90,284 shares in the company, valued at C$1,075,282.44. The trade was a 6.42% decrease in their position. 12.43% of the stock is owned by insiders.

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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