Spartan Delta (TSE:SDE) PT Raised to C$7.00

Spartan Delta (TSE:SDE) had its target price increased by equities research analysts at CIBC from C$6.00 to C$7.00 in a report issued on Monday, BayStreet.CA reports. CIBC’s target price suggests a potential upside of 69.90% from the company’s current price.

Other equities research analysts have also issued reports about the company. National Bankshares raised their price objective on Spartan Delta from C$5.50 to C$6.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Stifel Nicolaus raised their price target on Spartan Delta from C$5.75 to C$6.00 in a research note on Thursday, May 9th. BMO Capital Markets raised their price target on Spartan Delta from C$5.50 to C$6.00 in a research note on Thursday, May 9th. Desjardins downgraded Spartan Delta from a “buy” rating to a “hold” rating and set a C$4.50 price target for the company. in a research note on Tuesday, April 23rd. Finally, Cibc World Mkts raised Spartan Delta from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$5.61.

Spartan Delta Price Performance

SDE stock traded up C$0.01 during trading hours on Monday, hitting C$4.12. 47,684 shares of the stock traded hands, compared to its average volume of 296,719. The stock has a 50-day simple moving average of C$4.11 and a 200 day simple moving average of C$3.65. Spartan Delta has a one year low of C$2.63 and a one year high of C$4.63. The company has a market cap of C$713.58 million, a P/E ratio of 1.22 and a beta of 1.74. The company has a current ratio of 0.84, a quick ratio of 0.66 and a debt-to-equity ratio of 18.64.

Spartan Delta (TSE:SDE) last announced its earnings results on Tuesday, May 7th. The company reported C$0.06 earnings per share for the quarter, missing the consensus estimate of C$0.07 by C($0.01). Spartan Delta had a net margin of 154.30% and a return on equity of 58.05%. The firm had revenue of C$84.15 million for the quarter. Equities analysts forecast that Spartan Delta will post 0.3500432 earnings per share for the current 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.