Spartan Delta (TSE:SDE) Stock Rating Upgraded by ATB Cormark Capital Markets

Key Points

• ATB Cormark upgraded Spartan Delta from "sector perform" to "outperform" and raised its target to C$17.00 (from C$13.25), implying roughly a 28.6% upside from the current price.
• Multiple other analysts have also raised targets this month; the stock has nine Buy ratings and one Hold, giving a consensus rating of "Moderate Buy" and a consensus target of C$13.52.
• Shares traded at C$13.22 mid-day with a market cap of C$2.68B and a P/E of 37.77, while the company reported C($0.07) EPS and C$136.9M revenue for the most recent quarter.

Spartan Delta (TSE:SDE - Get Free Report) was upgraded by ATB Cormark Capital Markets from a "sector perform" rating to an "outperform" rating in a report released on Wednesday,BayStreet.CA reports. The firm currently has a C$17.00 target price on the stock, up from their prior target price of C$13.25. ATB Cormark Capital Markets' price objective would suggest a potential upside of 28.59% from the company's current price.

SDE has been the topic of a number of other reports. BMO Capital Markets upped 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. Scotiabank upped their target price on shares of Spartan Delta from C$8.00 to C$11.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 21st. Roth Mkm set a C$13.50 target price on shares of Spartan Delta and gave the stock a "buy" rating in a research note on Wednesday, March 4th. National Bank Financial upped their target price on shares of Spartan Delta from C$7.50 to C$9.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 6th. Finally, TD upped their target price on shares of Spartan Delta from C$14.00 to C$16.00 and gave the stock a "buy" rating in a research note on Wednesday. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Spartan Delta currently has a consensus rating of "Moderate Buy" and a consensus target price of C$13.52.

Spartan Delta Price Performance

Shares of TSE SDE traded down C$0.33 during mid-day trading on Wednesday, hitting C$13.22. 608,837 shares of the company's stock traded hands, compared to its average volume of 723,895. The company's 50-day moving average is C$11.86 and its two-hundred day moving average is C$9.14. The company has a debt-to-equity ratio of 29.03, a current ratio of 0.87 and a quick ratio of 0.66. The company has a market capitalization of C$2.68 billion, a P/E ratio of 37.77 and a beta of 0.05. Spartan Delta has a 1 year low of C$2.61 and a 1 year high of C$14.00.

Spartan Delta (TSE:SDE - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported C($0.07) earnings per share (EPS) for the quarter. The business had revenue of C$136.90 million for the quarter. Spartan Delta had a net margin of 17.79% and a return on equity of 11.57%. On average, equities analysts anticipate that Spartan Delta will post 0.305004 EPS for the current fiscal 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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