Spartan Delta (TSE:SDE) Upgraded to Strong-Buy by Cormark

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

SDE has been the subject of several other research reports. Desjardins raised Spartan Delta from a hold rating to a buy rating and boosted their price objective for the stock from C$4.75 to C$5.00 in a report on Monday, August 12th. CIBC boosted their price target on shares of Spartan Delta from C$6.00 to C$7.00 in a research note on Monday, July 15th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of C$5.67.

Spartan Delta Stock Performance

TSE SDE opened at C$3.63 on Monday. The company’s 50 day moving average is C$3.90 and its 200-day moving average is C$3.94. The firm has a market cap of C$628.72 million, a P/E ratio of 4.67 and a beta of 1.52. 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.

Spartan Delta (TSE:SDE) last issued its earnings results on Wednesday, August 7th. The company reported C$0.09 EPS for the quarter. Spartan Delta had a return on equity of 37.82% and a net margin of 50.10%. The business had revenue of C$73.45 million during the quarter. Sell-side analysts predict that Spartan Delta will post 0.2986497 earnings per share for the current year.

Insider Transactions at Spartan Delta

In related 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. In related news, Senior Officer Ojay Platt sold 16,333 shares of the business’s stock in a transaction that occurred 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 bought 12,000 shares of the 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. Company 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.