Spartan Delta (TSE:SDE) Price Target Raised to C$16.00

Key Points

• TD raised its price target to C$16.00 (from C$14.00), implying about a 21.03% upside
• Analyst consensus is broadly positive with 9 buys and 1 hold, an average price target of C$13.52 and an overall "Moderate Buy" rating from MarketBeat data.
• Shares traded down 2.4% to C$13.22; the company has a market cap of C$2.68B and a P/E of 37.77, and recently reported quarterly EPS of C($0.07) on C$136.9M in revenue.

Spartan Delta (TSE:SDE - Get Free Report) had its target price lifted by equities researchers at TD from C$14.00 to C$16.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD's price target would indicate a potential upside of 21.03% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Ventum Financial upped their price objective 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. BMO Capital Markets upped their price objective on Spartan Delta from C$13.50 to C$16.00 and gave the company an "outperform" rating in a report on Wednesday. TD Securities upped their price objective 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. Roth Mkm set a C$13.50 price objective on Spartan Delta and gave the company a "buy" rating in a report on Wednesday, March 4th. Finally, Desjardins upped their price objective on Spartan Delta from C$9.50 to C$11.00 and gave the company a "hold" rating in a report on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$13.52.

Spartan Delta Trading Down 2.4%

TSE SDE traded down C$0.33 on Wednesday, reaching C$13.22. The company had a trading volume of 608,837 shares, compared to its average volume of 723,895. The stock's 50 day moving average is C$11.86 and its 200-day moving average is C$9.14. The stock has a market cap of C$2.68 billion, a price-to-earnings ratio of 37.77 and a beta of 0.05. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 29.03. Spartan Delta has a 52 week low of C$2.61 and a 52 week high of C$14.00.

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