Spartan Delta (TSE:SDE) Given a C$13.50 Price Target at Desjardins

Key Points

• Desjardins assigned Spartan Delta a C$13.50 price target and kept a hold rating, implying about 18.2% upside from the current share price.
• Recent analyst sentiment remains mostly positive, with several firms raising targets and upgrading the stock; MarketBeat shows an average rating of Buy and an average target price of C$13.75.
• Shares fell 1.0% to C$11.42 on Friday, while the company reported C($0.07) EPS on revenue of C$136.9 million in its latest quarterly results.

Spartan Delta (TSE:SDE - Get Free Report) has been given a C$13.50 price objective by equities researchers at Desjardins in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. Desjardins' price target would indicate a potential upside of 18.21% from the company's current price.

A number of other equities analysts have also recently weighed in on SDE. ATB Cormark Capital Markets raised shares of Spartan Delta from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from C$13.25 to C$17.00 in a research report on Wednesday, May 6th. BMO Capital Markets increased 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 report on Wednesday, May 6th. National Bank Financial raised their price target on Spartan Delta from C$15.50 to C$16.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Scotiabank raised shares of Spartan Delta to a "strong-buy" rating in a research note on Friday, June 26th. Finally, TD increased their price target on Spartan Delta from C$14.00 to C$16.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$13.75.

Spartan Delta Trading Down 1.0%

Shares of TSE SDE traded down C$0.11 during trading on Friday, hitting C$11.42. 368,687 shares of the company traded hands, compared to its average volume of 762,201. The firm has a market capitalization of C$2.31 billion, a P/E ratio of 36.84 and a beta of 0.24. The company has a quick ratio of 0.66, a current ratio of 0.58 and a debt-to-equity ratio of 39.96. The company has a 50-day moving average price of C$12.07 and a 200-day moving average price of C$11.05. Spartan Delta has a 1 year low of C$4.43 and a 1 year high of C$14.40.

Spartan Delta (TSE:SDE - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported C($0.07) EPS for the quarter. The business had revenue of C$136.90 million during the quarter. Spartan Delta had a net margin of 14.14% and a return on equity of 9.84%. On average, equities analysts predict that Spartan Delta will post 0.305004 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ojay Platt sold 5,582 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of C$13.04, for a total value of C$72,789.28. Following the completion of the transaction, the insider owned 122,307 shares in the company, valued at C$1,594,883.28. This trade represents a 4.36% decrease in their position. Also, insider Robert John Day sold 6,191 shares of the firm'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 completion of the transaction, the insider owned 90,284 shares of the company's stock, valued at approximately C$1,075,282.44. The trade was a 6.42% decrease in their ownership of the stock. Insiders sold a total of 14,163 shares of company stock valued at $177,690 in the last quarter. 12.43% of the stock is currently owned by corporate insiders.

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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