Spartan Delta (TSE:SDE) PT Raised to C$5.50

Spartan Delta (TSE:SDE) had its price target hoisted by equities researchers at National Bankshares from C$5.00 to C$5.50 in a research report issued on Wednesday, BayStreet.CA reports. National Bankshares’ target price would suggest a potential upside of 28.50% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Spartan Delta from C$4.25 to C$4.50 and gave the stock a “buy” rating in a report on Tuesday, February 27th. CIBC raised their price objective on Spartan Delta from C$3.75 to C$4.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Desjardins lowered shares of Spartan Delta from a “buy” rating to a “hold” rating and set a C$4.50 price target for the company. in a research report on Tuesday, April 23rd. BMO Capital Markets set a C$5.50 price target on shares of Spartan Delta and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Finally, ATB Capital reduced their price target on shares of Spartan Delta from C$4.50 to C$4.25 and set a “sector perform” rating for the company in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$5.73.

Spartan Delta Price Performance

Shares of Spartan Delta stock opened at C$4.28 on Wednesday. The business’s 50 day simple moving average is C$3.75 and its two-hundred day simple moving average is C$3.44. Spartan Delta has a one year low of C$2.63 and a one year high of C$16.66. The company has a debt-to-equity ratio of 18.55, a current ratio of 0.89 and a quick ratio of 0.66. The stock has a market capitalization of C$741.30 million, a P/E ratio of 1.12 and a beta of 1.75.

Spartan Delta (TSE:SDE) last released its quarterly earnings results on Tuesday, May 7th. The company reported C$0.06 earnings per share for the quarter, missing the consensus estimate of C$0.07 by C($0.01). Spartan Delta had a net margin of 111.86% and a return on equity of 68.13%. The firm had revenue of C$84.15 million for the quarter. Analysts forecast that Spartan Delta will post 0.3284434 EPS for the current year.

About Spartan Delta

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.