Ventum Capital Increases Spartan Delta (TSE:SDE) Price Target to C$15.00

Key Points

• Ventum Capital raised its price target for Spartan Delta to C$15.00 (from C$14.50) and maintained a buy rating, implying roughly a 13.46% upside from the previous close.
• Several other brokerages also lifted targets (BMO and TD to C$16.00, ATB Cormark to C$17.00), leaving a consensus rating of Moderate Buy with nine Buys and one Hold and a consensus target of C$13.52.
• Shares traded at C$13.22 on Wednesday (12‑month range C$2.61–C$14.00) after Spartan Delta reported quarterly EPS of C($0.07) on C$136.9M revenue, while analysts project about 0.305 EPS for the year.

Spartan Delta (TSE:SDE - Get Free Report) had its target price increased by analysts at Ventum Capital from C$14.50 to C$15.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Ventum Capital's price objective would suggest a potential upside of 13.46% from the company's previous close.

Several other brokerages also recently commented on SDE. BMO Capital Markets boosted their target price on shares of Spartan Delta from C$13.50 to C$16.00 and gave the company an "outperform" rating in a research note on Wednesday. Ventum Financial boosted their target price on shares of Spartan Delta from C$10.50 to C$12.25 and gave the company a "buy" rating in a research note on Tuesday, February 24th. TD boosted their target price on shares of Spartan Delta from C$14.00 to C$16.00 and gave the company a "buy" rating in a research note on Wednesday. Roth Mkm set a C$13.50 target price on shares of Spartan Delta and gave the company a "buy" rating in a research note on Wednesday, March 4th. Finally, ATB Cormark Capital Markets raised Spartan Delta from a "sector perform" rating to an "outperform" rating and lifted their price target for the company from C$13.25 to C$17.00 in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company 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 on Wednesday, hitting C$13.22. The stock had a trading volume of 608,837 shares, compared to its average volume of 723,895. Spartan Delta has a twelve month low of C$2.61 and a twelve month high of C$14.00. The company has a debt-to-equity ratio of 29.03, a quick ratio of 0.66 and a current ratio of 0.87. The firm'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 (TSE:SDE - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported C($0.07) EPS for the quarter. Spartan Delta had a net margin of 17.79% and a return on equity of 11.57%. The firm had revenue of C$136.90 million during the quarter. On average, equities research 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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