Spartan Delta (TSE:SDE) Stock Price Breaks Below Two Hundred Day Moving Average on Analyst Downgrade

Spartan Delta Corp. (TSE:SDE)’s stock price crossed below its 200-day moving average during trading on Wednesday after TD lowered their price target on the stock from C$17.00 to C$16.00. The stock has a 200-day moving average of C$12.04 and traded as low as C$11.79. TD currently has a buy rating on the stock. Spartan Delta shares last traded at C$11.81, with a volume of 2,970,871 shares trading hands.

Other analysts have also issued research reports about the company. Desjardins set a C$13.50 price objective on Spartan Delta and gave the company a “hold” rating in a research note on Friday, July 17th. Royal Bank Of Canada set a C$17.00 target price on shares of Spartan Delta and gave the company a “moderate buy” rating in a research note on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$14.48.

Spartan Delta Price Performance

The company’s fifty day moving average is C$13.47 and its 200 day moving average is C$12.04. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 1.63. The stock has a market cap of C$2.42 billion, a PE ratio of 33.74 and a beta of 0.39.

Spartan Delta (TSE:SDE) last released its quarterly earnings data on Tuesday, November 3rd. The company reported C$0.02 earnings per share (EPS) for the quarter. 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. As a group, sell-side analysts anticipate that Spartan Delta Corp. will post 0.31 earnings per share for the current fiscal year.

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.