Spartan Energy Gets a Buy Rating from AltaCorp Captial

By Jason Carr

Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Analyst Thomas Matthews from AltaCorp Captial remains bullish on Spartan Energy (TSX: SPE) and has a C$8 price target.

According to TipRanks.com, Matthews is ranked #641 out of 4774 analysts.

Spartan Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$8.

Based on Spartan Energy’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$102 million and GAAP net loss of C$8.25 million. In comparison, last year the company earned revenue of C$87.66 million and had a net profit of C$244K.

Spartan Energy Corp. is an oil and natural gas exploration and production company with producing properties in Alberta. Its current projects include Southeast Saskatchewan, West Central Saskatchewan, Alberta, Manitoba and North Dakota. The company was founded on December 12, 1988 and is headquartered in Calgary, Canada.

The company’s shares closed on Monday at C$6.17.