TD Forecasts Strong Price Appreciation for Spartan Delta (TSE:SDE) Stock

Key Points

• TD raised Spartan Delta’s price target from C$16.00 to C$17.00 and maintained a “Buy” rating, implying approximately 47.4% upside from the stock’s C$11.53 price.
• Analyst sentiment remains positive, with a consensus “Buy” rating and average price target of C$13.84; ratings include one Strong Buy, eight Buys, and one Hold.
• Spartan Delta reported quarterly EPS of C$0.20 and revenue of C$166.14 million, while insiders sold 14,163 shares worth about C$177,690 over the past 90 days.

Spartan Delta (TSE:SDE - Get Free Report) had its target price boosted by research analysts at TD from C$16.00 to C$17.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD's price objective would suggest a potential upside of 47.44% from the stock's current price.

Several other analysts have also weighed in on SDE. Scotiabank raised Spartan Delta to a "strong-buy" rating in a report on Friday, June 26th. BMO Capital Markets increased their target price on Spartan Delta from C$13.50 to C$16.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Ventum Capital lifted their target price on Spartan Delta from C$14.50 to C$15.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. National Bank Financial boosted their price target on Spartan Delta from C$15.50 to C$16.00 and gave the company an "outperform" rating in a report on Wednesday, May 6th. Finally, Desjardins set a C$13.50 price target on Spartan Delta and gave the company a "hold" rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Spartan Delta presently has a consensus rating of "Buy" and an average price target of C$13.84.

Spartan Delta Stock Up 1.8%

SDE stock traded up C$0.20 during mid-day trading on Thursday, hitting C$11.53. 263,913 shares of the company were exchanged, compared to its average volume of 749,916. The company has a market capitalization of C$2.34 billion, a PE ratio of 37.19 and a beta of 0.24. The company has a current ratio of 0.58, a quick ratio of 0.66 and a debt-to-equity ratio of 39.96. Spartan Delta has a twelve month low of C$4.55 and a twelve month high of C$14.40. The firm has a fifty day simple moving average of C$11.76 and a 200 day simple moving average of C$11.32.

Spartan Delta (TSE:SDE - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported C$0.20 earnings per share (EPS) for the quarter. Spartan Delta had a net margin of 14.14% and a return on equity of 9.84%. The business had revenue of C$166.14 million for the quarter. On average, research analysts forecast that Spartan Delta will post 0.305004 earnings per share for the current fiscal year.

Insider Transactions at Spartan Delta

In other Spartan Delta news, insider Robert John Day sold 6,191 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of C$11.91, for a total value of C$73,734.81. Following the transaction, the insider owned 90,284 shares of the company's stock, valued at C$1,075,282.44. This trade represents a 6.42% decrease in their ownership of the stock. Also, insider Ojay Platt sold 5,582 shares of Spartan Delta stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 of the company's stock, valued at approximately C$1,594,883.28. The trade was a 4.36% decrease in their ownership of the stock. In the last ninety days, insiders have sold 14,163 shares of company stock valued at $177,690. Insiders own 12.43% of the company's stock.

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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