Spartan Delta Corp. (TSE:SDE) Given Average Rating of “Buy” by Brokerages

Shares of Spartan Delta Corp. (TSE:SDE) have been assigned a consensus rating of “Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$5.67.

SDE has been the topic of several analyst reports. Cormark raised shares of Spartan Delta from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, May 24th. Stifel Nicolaus lifted their target price on shares of Spartan Delta from C$5.75 to C$6.00 in a research note on Thursday, May 9th. CIBC increased their price target on Spartan Delta from C$6.00 to C$7.00 in a research report on Monday, July 15th. National Bankshares lifted their price objective on Spartan Delta from C$5.50 to C$6.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Finally, 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 research note on Monday.

Spartan Delta Stock Down 3.4 %

TSE SDE opened at C$4.00 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 30.43. The stock’s 50 day moving average is C$4.02 and its two-hundred day moving average is C$3.79. Spartan Delta has a 1-year low of C$2.63 and a 1-year high of C$4.52. The company has a market capitalization of C$692.80 million, a price-to-earnings ratio of 4.82 and a beta of 1.74.

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.