Spartan Delta (TSE:SDE) Upgraded to "Outperform" at CIBC

CIBC upgraded shares of Spartan Delta (TSE:SDE - Free Report) from a neutral rating to an outperform rating in a research note published on Thursday morning, BayStreet.CA reports. The firm currently has C$6.00 target price on the stock, up from their prior target price of C$4.00.

A number of other research firms have also recently issued reports on SDE. Cormark lifted their target price on Spartan Delta from C$6.50 to C$7.50 in a research report on Wednesday. ATB Capital decreased their price target on shares of Spartan Delta from C$4.50 to C$4.25 and set a sector perform rating on the stock in a report on Tuesday, February 27th. Stifel Nicolaus increased their price objective on shares of Spartan Delta from C$5.75 to C$6.00 in a research note on Thursday. Desjardins cut shares of Spartan Delta from a buy rating to a hold rating and set a C$4.50 target price on the stock. in a research note on Tuesday, April 23rd. Finally, National Bankshares upped their price target on shares of Spartan Delta from C$5.00 to C$5.50 in a report on Wednesday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of C$5.73.

Spartan Delta Price Performance

Shares of Spartan Delta stock traded down C$0.02 on Thursday, reaching C$4.28. 344,854 shares of the stock were exchanged, compared to its average volume of 240,933. The firm's 50 day moving average is C$3.75 and its 200-day moving average is C$3.44. The firm has a market cap of C$741.30 million, a PE ratio of 1.12 and a beta of 1.75. The company has a debt-to-equity ratio of 18.55, a quick ratio of 0.66 and a current ratio of 0.89. Spartan Delta has a one year low of C$2.63 and a one year high of C$16.66.

Spartan Delta (TSE:SDE - Get Free Report) last issued its earnings results on Tuesday, May 7th. The company reported C$0.06 earnings per share for the quarter, missing analysts' consensus estimates of C$0.07 by C($0.01). Spartan Delta had a net margin of 111.86% and a return on equity of 68.13%. The business had revenue of C$84.15 million during the quarter. As a group, analysts anticipate that Spartan Delta will post 0.3284434 EPS for the current fiscal 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.