Spartan Delta (TSE:SDE) Cut to “Hold” at Desjardins

Spartan Delta (TSE:SDE) was downgraded by 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 objective on the stock. Desjardins’ price target would indicate a potential upside of 7.91% from the stock’s previous close.

Several other analysts have also recently commented on SDE. CIBC lifted their price objective on shares of Spartan Delta from C$3.75 to C$4.00 and gave the company a “neutral” rating in a research note on Monday. TD Securities lowered their price target on shares of 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 price objective on Spartan Delta and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Stifel Nicolaus boosted their price objective on Spartan Delta from C$4.25 to C$4.50 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, ATB Capital reduced their price target on Spartan Delta from C$4.50 to C$4.25 and set a “sector perform” rating for the company in a research report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$6.29.

Spartan Delta Stock Performance

SDE traded up C$0.06 on Tuesday, reaching C$4.17. 358,067 shares of the stock were exchanged, compared to its average volume of 227,314. The company has a debt-to-equity ratio of 18.55, a current ratio of 0.89 and a quick ratio of 0.66. The company’s 50-day moving average price is C$3.52 and its 200 day moving average price is C$3.44. The firm has a market capitalization of C$722.24 million, a PE ratio of 1.08 and a beta of 1.75. Spartan Delta has a fifty-two week low of C$2.63 and a fifty-two week high of C$16.66.

Spartan Delta (TSE:SDE) last released its earnings results on Monday, February 26th. The company reported C$0.18 EPS for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.06. The firm had revenue of C$77.32 million during the quarter. Spartan Delta had a return on equity of 68.13% and a net margin of 111.86%. As a group, sell-side analysts forecast that Spartan Delta will post 0.3506013 EPS for the current fiscal 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.