Desjardins Upgrades Spartan Delta (TSE:SDE) to “Moderate Buy”

Desjardins upgraded shares of Spartan Delta (TSE:SDE) to a moderate buy rating in a report released on Thursday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on SDE. BMO Capital Markets cut their price target on Spartan Delta from C$6.00 to C$5.00 in a report on Friday, December 13th. Scotiabank boosted their price target on Spartan Delta from C$6.00 to C$7.50 in a report on Thursday. Finally, National Bankshares upped their target price on Spartan Delta from C$5.75 to C$6.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Spartan Delta currently has a consensus rating of “Buy” and a consensus price target of C$5.83.

Spartan Delta Stock Performance

Shares of SDE stock opened at C$3.80 on Thursday. The stock has a fifty day moving average price of C$3.54 and a 200 day moving average price of C$3.69. The stock has a market cap of C$658.16 million, a PE ratio of 4.58 and a beta of 1.49. Spartan Delta has a 1 year low of C$2.78 and a 1 year high of C$4.36. 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 (TSE:SDE) last released its quarterly earnings results on Tuesday, November 5th. The company reported C$0.02 earnings per share for the quarter. Spartan Delta had a return on equity of 37.82% and a net margin of 50.10%. The company had revenue of C$60.55 million during the quarter. Sell-side analysts forecast that Spartan Delta will post 0.305004 earnings per share for the current fiscal 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.