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

Spartan Delta (TSE:SDE) had its price target dropped by investment analysts at National Bankshares from C$6.00 to C$5.50 in a report released on Friday, BayStreet.CA reports. National Bankshares’ price target points to a potential upside of 50.68% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Cormark upgraded Spartan Delta to a “strong-buy” rating in a research note on Monday, September 23rd. CIBC raised their price target on shares of Spartan Delta from C$6.00 to C$7.00 in a research report on Monday, July 15th. Finally, Desjardins upgraded shares of Spartan Delta from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$4.75 to C$5.00 in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$5.61.

Spartan Delta Price Performance

TSE SDE opened at C$3.65 on Friday. Spartan Delta has a 12-month low of C$2.63 and a 12-month high of C$4.52. The firm’s fifty day simple moving average is C$3.89 and its two-hundred day simple moving average is C$3.94. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 30.43. The firm has a market capitalization of C$632.18 million, a P/E ratio of 4.40 and a beta of 1.52.

Spartan Delta (TSE:SDE) last issued its quarterly earnings results 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. Analysts forecast that Spartan Delta will post 0.2899126 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Senior Officer Martin Malek bought 12,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of C$3.80 per share, for a total transaction of C$45,600.00. In other news, Senior Officer Ojay Platt sold 16,333 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$4.00, for a total value of C$65,332.00. Also, Senior Officer Martin Malek acquired 12,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of C$3.80 per share, with a total value of C$45,600.00. 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.