Spartan Delta (TSE:SDE) Stock Rating Upgraded by Cormark

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

A number of other research firms have also recently weighed in on SDE. CIBC upped their price target on Spartan Delta from C$6.00 to C$7.00 in a report on Monday, July 15th. Desjardins raised Spartan Delta from a hold rating to a buy rating and upped their target price for the company from C$4.75 to C$5.00 in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of C$5.67.

Spartan Delta Price Performance

Spartan Delta stock opened at C$3.88 on Monday. The company has a debt-to-equity ratio of 30.43, a quick ratio of 0.66 and a current ratio of 0.93. Spartan Delta has a one year low of C$2.63 and a one year high of C$4.52. The company has a market cap of C$672.02 million, a P/E ratio of 4.78 and a beta of 1.52. The business has a fifty day moving average of C$3.91 and a two-hundred day moving average of C$3.94.

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

Insiders Place Their Bets

In other news, Senior Officer Martin Malek bought 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average price of C$3.80 per share, with a total value of C$45,600.00. In other Spartan Delta news, Senior Officer Ojay Platt sold 16,333 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$4.00, for a total transaction of C$65,332.00. Also, Senior Officer Martin Malek acquired 12,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of C$3.80 per share, for a total transaction of C$45,600.00. 12.44% of the stock is currently owned by company insiders.

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.