Spartan Energy (SPE) PT Raised to C$6.75

Spartan Energy (TSE:SPE) had its target price boosted by Raymond James from C$6.50 to C$6.75 in a research note published on Tuesday morning.

A number of other research firms have also recently weighed in on SPE. Scotiabank cut Spartan Energy from an outperform rating to a tender rating and lowered their price objective for the company from C$13.00 to C$9.00 in a research report on Tuesday, April 17th. National Bank Financial cut Spartan Energy from an outperform rating to a sector perform rating and lowered their price target for the stock from C$9.00 to C$7.00 in a report on Tuesday, April 17th. CIBC cut Spartan Energy from an outperform rating to a neutral rating and lowered their price target for the stock from C$8.00 to C$6.50 in a report on Tuesday, April 17th. Finally, BMO Capital Markets cut Spartan Energy from an outperform rating to a market perform rating and lowered their price target for the stock from C$7.50 to C$7.00 in a report on Tuesday, April 17th. Four analysts have rated the stock with a hold rating, Spartan Energy has a consensus rating of Hold and a consensus price target of C$7.25.

SPE stock opened at C$6.51 on Tuesday. Spartan Energy has a twelve month low of C$5.03 and a twelve month high of C$7.65.

Spartan Energy (TSE:SPE) last posted its quarterly earnings data on Thursday, March 15th. The company reported C($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.03 by C($0.08). Spartan Energy had a negative net margin of 10.10% and a negative return on equity of 2.47%. The company had revenue of C$57.91 million for the quarter, compared to analysts’ expectations of C$106.60 million.

About Spartan Energy

Spartan Energy Corp. operates as an oil and natural gas exploration and production company in Canada and the United States. The company's principal properties include the southeast Saskatchewan properties, which consist of approximately 402,449 net acres of land focused primarily on conventional open-hole horizontal wells drilled on Mississippian oil plays, such as the Frobisher, Alida, Souris Valley, Tilston, Midale, and Ratcliffe formations; and west central Saskatchewan property that comprises approximately 37,633 net acres of land targeting the Viking formation.

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