Spartan Delta (TSE:SDE) Price Target Cut to C$5.50 by Analysts at National Bankshares

Spartan Delta (TSE:SDE) had its price objective cut by National Bankshares from C$6.00 to C$5.50 in a report released on Friday morning, BayStreet.CA reports.

Several other brokerages also recently weighed in on SDE. CIBC boosted their price target on Spartan Delta from C$6.00 to C$7.00 in a report on Monday, July 15th. Desjardins upgraded Spartan Delta from a hold rating to a buy rating and upped their target price for the company from C$4.75 to C$5.00 in a research note on Monday, August 12th. Finally, Cormark raised Spartan Delta to a strong-buy rating in a research note on Monday, September 23rd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of C$5.61.

Spartan Delta Stock Performance

Shares of SDE opened at C$3.69 on Friday. Spartan Delta has a 12-month low of C$2.63 and a 12-month high of C$4.52. The stock has a market cap of C$639.11 million, a P/E ratio of 4.45 and a beta of 1.52. 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 company has a 50-day moving average of C$3.88 and a two-hundred day moving average of C$3.95.

Spartan Delta (TSE:SDE) last released its quarterly earnings results on Wednesday, August 7th. The company reported C$0.09 earnings per share for the quarter. The company had revenue of C$73.45 million during the quarter. Spartan Delta had a return on equity of 37.82% and a net margin of 50.10%. As a group, research analysts predict that Spartan Delta will post 0.2899126 EPS for the current fiscal year.

Insider Transactions at Spartan Delta

In other news, Senior Officer Martin Malek bought 12,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was acquired at an average price of C$3.80 per share, for a total transaction of C$45,600.00. In related news, Senior Officer Ojay Platt sold 16,333 shares of the stock in a transaction on Tuesday, August 13th. The stock was 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 Spartan Delta stock in a transaction on Friday, September 13th. The shares were bought at an average price of C$3.80 per share, for a total transaction of C$45,600.00. Company 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.