Desjardins Downgrades Spartan Delta (TSE:SDE) to Hold

Spartan Delta (TSE:SDE) was downgraded by stock analysts at Desjardins from a “buy” rating to a “hold” rating in a research note issued on Tuesday, BayStreet.CA reports. They currently have a C$4.50 price target on the stock. Desjardins’ price target suggests a potential upside of 10.02% from the stock’s current price.

Several other brokerages have also recently commented on SDE. National Bankshares upped their target price on shares of Spartan Delta from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. ATB Capital dropped their price objective on Spartan Delta from C$4.50 to C$4.25 and set a “sector perform” rating for the company in a report on Tuesday, February 27th. TD Securities reduced their target price on Spartan Delta from C$4.50 to C$4.25 and set a “buy” rating on the stock in a report on Tuesday, February 27th. BMO Capital Markets set a C$5.50 target price on Spartan Delta and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, Raymond James cut their price target on shares of Spartan Delta from C$6.50 to C$5.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$6.29.

Spartan Delta Price Performance

Shares of SDE stock opened at C$4.09 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.89 and a debt-to-equity ratio of 18.55. Spartan Delta has a 12 month low of C$2.63 and a 12 month high of C$16.66. The firm has a market cap of C$708.39 million, a price-to-earnings ratio of 1.07 and a beta of 1.75. The stock has a 50-day moving average price of C$3.57 and a 200 day moving average price of C$3.45.

Spartan Delta (TSE:SDE) last issued its quarterly earnings results on Monday, February 26th. The company reported C$0.18 EPS for the quarter, topping the consensus estimate of C$0.12 by C$0.06. The company had revenue of C$77.32 million during the quarter. Spartan Delta had a net margin of 111.86% and a return on equity of 68.13%. Research analysts expect that Spartan Delta will post 0.3506013 EPS for the current year.

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.