Spartan Delta (TSE:SDE) Price Target Cut to C$5.50 by Analysts at National Bankshares

Spartan Delta (TSE:SDE) had its price target reduced by stock analysts at National Bankshares from C$6.00 to C$5.50 in a research report issued to clients and investors on Friday, BayStreet.CA reports. National Bankshares’ target price would suggest a potential upside of 52.78% from the company’s previous close.

Several other brokerages have also recently weighed in on SDE. Cormark upgraded Spartan Delta to a “strong-buy” rating in a research report on Monday. Desjardins raised shares of Spartan Delta from a “hold” rating to a “buy” rating and upped their target price for the stock from C$4.75 to C$5.00 in a report on Monday, August 12th. Finally, CIBC increased their price objective on Spartan Delta from C$6.00 to C$7.00 in a research report on Monday, July 15th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$5.61.

Spartan Delta Stock Performance

Shares of SDE traded down C$0.03 during trading hours on Friday, hitting C$3.60. The company’s stock had a trading volume of 252,928 shares, compared to its average volume of 278,772. The company has a market cap of C$623.52 million, a price-to-earnings ratio of 4.34 and a beta of 1.52. The company has a debt-to-equity ratio of 30.43, a current ratio of 0.93 and a quick ratio of 0.66. The business has a 50 day simple moving average of C$3.89 and a two-hundred day simple moving average of C$3.94. Spartan Delta has a 52-week low of C$2.63 and a 52-week high of C$4.52.

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

Insiders Place Their Bets

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