Spartan Delta (TSE:SDE) Issues Earnings Results

Spartan Delta (TSE:SDE) issued its quarterly earnings results on Tuesday. The company reported C$0.02 EPS for the quarter, FiscalAI reports. Spartan Delta had a net margin of 11.31% and a return on equity of 10.02%. The company had revenue of C$181.48 million during the quarter.

Spartan Delta Trading Down 9.6%

Shares of Spartan Delta stock opened at C$11.81 on Thursday. The stock has a market cap of C$2.42 billion, a P/E ratio of 33.74 and a beta of 0.39. The stock’s 50 day simple moving average is C$13.47 and its 200-day simple moving average is C$12.04. Spartan Delta has a 1-year low of C$6.19 and a 1-year high of C$15.13. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.68 and a quick ratio of 0.66.

Analysts Set New Price Targets

Several research analysts recently weighed in on SDE shares. Desjardins set a C$13.50 price target on shares of Spartan Delta and gave the stock a “hold” rating in a research report on Friday, July 17th. Royal Bank Of Canada set a C$17.00 price target on shares of Spartan Delta and gave the company a “moderate buy” rating in a research note on Wednesday, September 23rd. Finally, TD lowered their price objective on Spartan Delta from C$17.00 to C$16.00 and set a “buy” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$14.48.

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.