CIBC Cuts Spartan Delta (TSE:SDE) Price Target to C$5.00

Spartan Delta (TSE:SDE) had its target price lowered by CIBC from C$7.00 to C$5.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports.

A number of other equities research analysts have also recently issued reports on SDE. National Bankshares upped their target price on Spartan Delta from C$5.75 to C$6.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. BMO Capital Markets decreased their price objective on shares of Spartan Delta from C$6.00 to C$5.00 in a report on Friday, December 13th. Ventum Cap Mkts upgraded shares of Spartan Delta to a “strong-buy” rating in a report on Monday, March 31st. Scotiabank upped their price target on shares of Spartan Delta from C$6.00 to C$7.50 in a report on Thursday, January 30th. Finally, Ventum Financial set a C$5.25 price target on Spartan Delta and gave the company a “buy” rating in a research report on Monday, March 31st. Three investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Spartan Delta has an average rating of “Strong Buy” and a consensus target price of C$5.91.

Spartan Delta Stock Performance

SDE opened at C$2.73 on Thursday. The company has a debt-to-equity ratio of 28.49, a quick ratio of 0.66 and a current ratio of 0.80. The company has a market cap of C$546.75 million, a PE ratio of 3.41 and a beta of 1.49. The stock has a 50-day moving average of C$3.24 and a 200-day moving average of C$3.45. Spartan Delta has a 52-week low of C$2.39 and a 52-week high of C$4.36.

Insider Transactions at Spartan Delta

In other news, Senior Officer Martin Malek acquired 17,700 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The shares were bought at an average price of C$2.83 per share, with a total value of C$50,091.00. Also, Senior Officer Ojay Platt sold 20,333 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of C$3.02, for a total value of C$61,405.66. Insiders own 12.43% of the company’s stock.

Spartan Delta Company Profile

Spartan Delta Corp is an oil and gas exploration and production company. It is engaged in the exploration, development, and production of petroleum and natural gas properties in Alberta. The company operates and focuses its activities on Peace River Arch and Central Alberta.