Spartan Delta (TSE:SDE) Rating Increased to Strong-Buy at Cormark

Cormark upgraded shares of Spartan Delta (TSE:SDE) to a strong-buy rating in a research note released on Monday, Zacks.com reports.

SDE has been the topic of a number of other reports. CIBC boosted their target price on shares of Spartan Delta from C$6.00 to C$7.00 in a report on Monday, July 15th. Desjardins raised 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 report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of C$5.67.

Spartan Delta Stock Down 6.4 %

Shares of SDE stock opened at C$3.63 on Monday. Spartan Delta has a 12-month low of C$2.63 and a 12-month high of C$4.52. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 30.43. The firm has a fifty day moving average of C$3.90 and a 200-day moving average of C$3.94. The company has a market capitalization of C$628.72 million, a price-to-earnings ratio of 4.67 and a beta of 1.52.

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 firm 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, equities research analysts predict that Spartan Delta will post 0.2986497 earnings per share for the current fiscal year.

Insider Transactions at Spartan Delta

In other news, Senior Officer Martin Malek bought 12,000 shares of Spartan Delta stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of C$3.80 per share, for a total transaction of C$45,600.00. In other Spartan Delta news, Senior Officer Martin Malek acquired 12,000 shares of Spartan Delta stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of C$3.80 per share, for a total transaction of C$45,600.00. Also, Senior Officer Ojay Platt sold 16,333 shares of Spartan Delta 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. Insiders own 12.44% of the company’s stock.

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.