Spartan Delta Corp. (TSE:SDE) Receives Average Rating of “Buy” from Analysts

Spartan Delta Corp. (TSE:SDEGet Rating) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$13.77.

SDE has been the topic of several recent research reports. ATB Capital lifted their target price on shares of Spartan Delta from C$8.25 to C$9.50 in a research report on Wednesday, February 16th. Scotiabank lifted their price target on shares of Spartan Delta from C$14.00 to C$17.00 in a report on Tuesday, March 8th. BMO Capital Markets lifted their price target on shares of Spartan Delta from C$8.00 to C$9.50 in a report on Wednesday, March 9th. Cormark lifted their price target on shares of Spartan Delta from C$20.00 to C$22.50 and gave the company a “buy” rating in a report on Monday, April 18th. Finally, CIBC lifted their price target on shares of Spartan Delta from C$11.00 to C$16.00 and gave the company an “outperform” rating in a report on Thursday, April 14th.

Shares of Spartan Delta stock opened at C$13.09 on Wednesday. The company has a debt-to-equity ratio of 49.89, a quick ratio of 0.40 and a current ratio of 0.45. The company’s 50-day simple moving average is C$10.28. Spartan Delta has a twelve month low of C$3.92 and a twelve month high of C$13.58. The firm has a market cap of C$2.03 billion and a price-to-earnings ratio of 5.24.

Spartan Delta (TSE:SDEGet Rating) last issued its earnings results on Tuesday, March 8th. The company reported C$0.76 earnings per share for the quarter, beating the consensus estimate of C$0.38 by C$0.38. The business had revenue of C$296.43 million for the quarter. Sell-side analysts predict that Spartan Delta will post 2.1199999 earnings per share for the current year.

In related news, Director Fotis Kalantzis sold 54,400 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of C$12.39, for a total transaction of C$673,874.56. Following the completion of the sale, the director now directly owns 1,123,134 shares of the company’s stock, valued at C$13,912,710.11. Also, Director Donald Archibald purchased 16,666 shares of the company’s stock in a transaction that occurred on Thursday, April 14th. The shares were acquired at an average cost of C$3.00 per share, with a total value of C$49,998.00. Following the completion of the purchase, the director now owns 1,063,234 shares of the company’s stock, valued at C$3,189,702.

About Spartan Delta (Get Rating)

Spartan Delta Corp. engages in the exploration, development, and production of petroleum and natural gas properties in the Western Canada. It also owns and operates oil and gas properties in Alberta, Saskatchewan, and British Columbia. As of December 31, 2021, company owned total proved plus probable reserves of 545,734 thousand barrels of oil equivalent.

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Analyst Recommendations for Spartan Delta (TSE:SDE)

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