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

Desjardins lowered shares of Spartan Delta (TSE:SDE) from a buy rating to a hold rating in a research report report published on Tuesday morning, BayStreet.CA reports. They currently have C$4.50 target price on the stock.

A number of other brokerages have also commented on SDE. CIBC lifted their price target on Spartan Delta from C$3.75 to C$4.00 and gave the company a neutral rating in a research note on Monday. Stifel Nicolaus lifted their price target on Spartan Delta from C$4.25 to C$4.50 and gave the company a buy rating in a research note on Tuesday, February 27th. ATB Capital cut their price objective on Spartan Delta from C$4.50 to C$4.25 and set a sector perform rating on the stock in a research note on Tuesday, February 27th. National Bankshares lifted their price objective on Spartan Delta from C$4.50 to C$5.00 and gave the stock an outperform rating in a research note on Friday, April 19th. Finally, BMO Capital Markets set a C$5.50 price objective on Spartan Delta and gave the stock an outperform rating in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of C$6.29.

Spartan Delta Stock Performance

Shares of SDE stock opened at C$4.15 on Tuesday. The business’s 50-day moving average price is C$3.54 and its 200-day moving average price is C$3.44. Spartan Delta has a 12 month low of C$2.63 and a 12 month high of C$16.66. The firm has a market capitalization of C$718.78 million, a price-to-earnings ratio of 1.09 and a beta of 1.75. The company has a current ratio of 0.89, a quick ratio of 0.66 and a debt-to-equity ratio of 18.55.

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