Brokerages Set Spartan Delta Corp. (TSE:SDE) Target Price at C$5.61

Shares of Spartan Delta Corp. (TSE:SDE) have earned an average recommendation of “Buy” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$5.61.

A number of analysts have issued reports on the stock. CIBC boosted their price target on shares of Spartan Delta from C$6.00 to C$7.00 in a research note on Monday, July 15th. Cormark raised shares of Spartan Delta to a “strong-buy” rating in a research note on Monday, September 23rd. Desjardins raised shares of Spartan Delta from a “hold” rating to a “buy” rating and raised their price target for the company from C$4.75 to C$5.00 in a research report on Monday, August 12th. Finally, National Bankshares cut their price objective on Spartan Delta from C$6.00 to C$5.50 in a research report on Friday, September 27th.

Spartan Delta Stock Up 2.5 %

Spartan Delta stock opened at C$3.65 on Wednesday. The company has a debt-to-equity ratio of 30.43, a quick ratio of 0.66 and a current ratio of 0.93. The firm has a 50 day moving average price of C$3.78 and a 200 day moving average price of C$3.95. Spartan Delta has a fifty-two week low of C$2.63 and a fifty-two week high of C$4.52. The company has a market capitalization of C$632.18 million, a PE ratio of 4.40 and a beta of 1.49.

Spartan Delta (TSE:SDE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.09 earnings per share for the quarter. Spartan Delta had a return on equity of 37.82% and a net margin of 50.10%. The business had revenue of C$73.45 million during the quarter. Research analysts expect that Spartan Delta will post 0.305004 earnings per share for the current year.

Insider Transactions at Spartan Delta

In related news, Senior Officer Ojay Platt sold 16,333 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$4.00, for a total value of C$65,332.00. In related news, Senior Officer Martin Malek bought 12,000 shares of the stock in a transaction dated Friday, September 13th. The stock was acquired at an average price of C$3.80 per share, for a total transaction of C$45,600.00. Also, Senior Officer Ojay Platt sold 16,333 shares of Spartan Delta stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$4.00, for a total transaction of C$65,332.00. Corporate insiders own 12.43% of the company’s stock.

Spartan Delta Company Profile

Spartan Delta Corp. engages in the exploration, development, and production of oil and natural gas reserves in the Western Canada. Its assets are located in Montney and Deep Basin. The company was formerly known as Return Energy Inc and changed its name to Spartan Delta Corp. in May 2020. The company was incorporated in 2006 and is headquartered in Calgary, Canada.