Spartan Energy (SPE) Price Target Raised to C$6.75 at Raymond James

Spartan Energy (TSE:SPE) had its price target raised by Raymond James from C$6.50 to C$6.75 in a research report sent to investors on Tuesday.

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

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Shares of Spartan Energy stock opened at C$6.58 on Tuesday. Spartan Energy has a 12-month low of C$5.03 and a 12-month high of C$7.65.

Spartan Energy (TSE:SPE) last issued its earnings results on Thursday, March 15th. The company reported C($0.05) earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of C$106.60 million.

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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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