Spartan Delta (TSE:SDE) Trading Down 2.5% – Here’s What Happened

Spartan Delta Corp. (TSE:SDE) fell 2.5% during mid-day trading on Friday . The company traded as low as C$13.38 and last traded at C$13.48. 299,065 shares changed hands during trading, a decline of 59% from the average daily volume of 722,476 shares. The stock had previously closed at C$13.82.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SDE shares. TD upped their price objective on shares of Spartan Delta from C$16.00 to C$17.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Desjardins set a C$13.50 target price on shares of Spartan Delta and gave the company a “hold” rating in a report on Friday, July 17th. Finally, Scotiabank raised Spartan Delta to a “strong-buy” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Spartan Delta has a consensus rating of “Buy” and a consensus price target of C$13.84.

Spartan Delta Trading Down 2.5%

The stock has a market cap of C$2.77 billion, a PE ratio of 38.51 and a beta of 0.24. The firm has a 50-day moving average price of C$12.28 and a 200-day moving average price of C$12.12. The company has a debt-to-equity ratio of 30.41, a quick ratio of 0.66 and a current ratio of 0.73.

Spartan Delta (TSE:SDE) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.20 EPS for the quarter. The company had revenue of C$166.14 million for the quarter. Spartan Delta had a net margin of 13.77% and a return on equity of 10.71%. As a group, equities analysts anticipate that Spartan Delta Corp. will post 0.305004 EPS 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.