Royal Bank Of Canada Reiterates “C$17.00” Price Target for Spartan Delta (TSE:SDE)

Spartan Delta (TSE:SDE) has been given a C$17.00 target price by stock analysts at Royal Bank Of Canada in a note issued to investors on Wednesday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 31.48% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Desjardins set a C$13.50 target price on shares of Spartan Delta and gave the stock a “hold” rating in a report on Friday, July 17th. TD upped their price objective on shares of Spartan Delta from C$16.00 to C$17.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Scotiabank raised Spartan Delta to a “strong-buy” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$14.10.

Spartan Delta Trading Up 2.7%

TSE SDE traded up C$0.34 on Wednesday, reaching C$12.93. The company had a trading volume of 257,711 shares, compared to its average volume of 752,061. Spartan Delta has a 52 week low of C$5.24 and a 52 week high of C$14.40. The stock’s 50 day moving average is C$12.51 and its 200-day moving average is C$12.25. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 30.41. The stock has a market cap of C$2.65 billion, a price-to-earnings ratio of 36.94 and a beta of 0.24.

Spartan Delta (TSE:SDE) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.20 EPS for the quarter. The company had revenue of C$166.14 million during the quarter. Spartan Delta had a return on equity of 10.71% and a net margin of 13.77%. 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.