Spartan Delta (TSE:SDE) Stock Rating Upgraded by Desjardins

Spartan Delta (TSE:SDE) was upgraded by stock analysts at Desjardins to a “moderate buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other research analysts have also recently weighed in on the company. National Bankshares lifted their target price on Spartan Delta from C$5.75 to C$6.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. BMO Capital Markets reduced their price objective on Spartan Delta from C$6.00 to C$5.00 in a research note on Friday, December 13th. Finally, Scotiabank increased their target price on shares of Spartan Delta from C$6.00 to C$7.50 in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$5.83.

Spartan Delta Trading Down 2.6 %

Shares of SDE stock opened at C$3.80 on Thursday. Spartan Delta has a twelve month low of C$2.78 and a twelve month high of C$4.36. The company has a market capitalization of C$658.16 million, a price-to-earnings ratio of 4.58 and a beta of 1.49. The firm has a 50-day moving average price of C$3.54 and a 200 day moving average price of C$3.69. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 30.43.

Spartan Delta (TSE:SDE) last released its earnings results on Tuesday, November 5th. The company reported C$0.02 EPS for the quarter. The firm had revenue of C$60.55 million during the quarter. Spartan Delta had a net margin of 50.10% and a return on equity of 37.82%. Research analysts forecast that Spartan Delta will post 0.305004 earnings per share for the current fiscal 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.