Spartan Delta (TSE:SDE) Shares Down 9.5% – What’s Next?

Spartan Delta Corp. (TSE:SDE)’s stock price traded down 9.5% during trading on Wednesday . The stock traded as low as C$11.43 and last traded at C$11.48. 110,393 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 754,952 shares. The stock had previously closed at C$12.68.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Desjardins boosted their price target on shares of Spartan Delta from C$9.50 to C$11.00 and gave the company a “hold” rating in a report on Tuesday, February 24th. National Bank Financial boosted their price target on shares of Spartan Delta from C$7.50 to C$9.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Roth Mkm set a C$13.50 price objective on shares of Spartan Delta and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Ventum Financial lifted their price objective on shares of Spartan Delta from C$10.50 to C$12.25 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Finally, TD Securities lifted their price objective on shares of Spartan Delta from C$9.50 to C$12.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$11.09.

Spartan Delta Stock Performance

The business’s 50-day moving average price is C$10.88 and its 200-day moving average price is C$8.27. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 29.03. The stock has a market cap of C$2.31 billion, a PE ratio of 32.89 and a beta of -0.03.

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.