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

Spartan Delta Corp. (TSE:SDE) shares 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 traded.

A number of other equities research analysts have also issued reports on SDE. Desjardins set a C$13.50 price target on Spartan Delta and gave the company a “hold” rating in a research report 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 report on Wednesday, September 23rd. 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 MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$14.48.

Spartan Delta Stock Performance

The firm has a market capitalization of C$2.42 billion, a price-to-earnings ratio of 33.74 and a beta of 0.39. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.68 and a quick ratio of 0.66. The firm has a 50 day moving average price of C$13.47 and a 200-day moving average price of C$12.04.

Spartan Delta (TSE:SDE) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported C$0.02 earnings per share (EPS) for the quarter. Spartan Delta had a return on equity of 10.02% and a net margin of 11.31%. The company had revenue of C$181.48 million during the quarter. As a group, sell-side analysts expect that Spartan Delta Corp. will post 0.31 earnings per share 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.