Spartan Delta (TSE:SDE) Stock Price Expected to Rise, National Bank Financial Analyst Says

Key Points

• National Bank Financial raised its price target on Spartan Delta from C$15.50 to C$16.00 and maintained an "outperform" rating, implying roughly a 21.03% upside; several other firms (TD, Scotiabank, Ventum, ATB Cormark) have also recently bumped targets and ratings.
• Analyst consensus is a "Moderate Buy" with nine Buy and one Hold, and an average price target of C$13.52, though several individual targets now sit above that average.
• Shares traded down 2.4% to C$13.22 with a market cap of C$2.68B and a P/E of 37.77; the company reported a C($0.07) EPS loss last quarter on C$136.9M revenue while showing a 17.79% net margin and 11.57% ROE.

Spartan Delta (TSE:SDE - Get Free Report) had its price target upped by equities researchers at National Bank Financial from C$15.50 to C$16.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's price target suggests a potential upside of 21.03% from the stock's previous close.

A number of other research firms have also issued reports on SDE. TD Securities raised their price target on Spartan Delta from C$9.50 to C$12.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. Scotiabank raised their price target on Spartan Delta from C$8.00 to C$11.00 and gave the stock an "outperform" rating in a report on Wednesday, January 21st. Ventum Financial raised their price target on Spartan Delta from C$10.50 to C$12.25 and gave the stock a "buy" rating in a report on Tuesday, February 24th. 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 stock from C$13.25 to C$17.00 in a report on Wednesday. Finally, TD increased their price target on shares of Spartan Delta from C$14.00 to C$16.00 and gave the stock a "buy" rating in a report on Wednesday. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of C$13.52.

Spartan Delta Stock Down 2.4%

Shares of SDE stock traded down C$0.33 on Wednesday, reaching C$13.22. 608,837 shares of the stock were exchanged, compared to its average volume of 723,895. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 29.03. The business's 50 day moving average price is C$11.86 and its 200 day moving average price is C$9.14. The company has a market capitalization of C$2.68 billion, a price-to-earnings ratio of 37.77 and a beta of 0.05. Spartan Delta has a twelve month low of C$2.61 and a twelve month 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) earnings per share (EPS) for the quarter. Spartan Delta had a net margin of 17.79% and a return on equity of 11.57%. The company had revenue of C$136.90 million during the quarter. As a group, sell-side analysts expect that Spartan Delta will post 0.305004 earnings per share for the current fiscal 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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