Spartan Delta (TSE:SDE) Rating Increased to Strong-Buy at National Bank Financial

Spartan Delta (TSE:SDE) was upgraded by National Bank Financial to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other research analysts have also issued reports about the stock. BMO Capital Markets cut their target price on shares of Spartan Delta from C$6.00 to C$5.00 in a research note on Friday, December 13th. Desjardins raised shares of Spartan Delta to a “moderate buy” rating in a research report on Thursday. 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 report on Thursday, December 19th. Finally, Scotiabank increased their target price on shares of Spartan Delta from C$6.00 to C$7.50 in a research report on Thursday. One research analyst has rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$5.83.

Spartan Delta Trading Down 2.6 %

SDE opened at C$3.80 on Thursday. The company’s 50 day moving average price is C$3.54 and its two-hundred day moving average price is C$3.69. The firm has a market capitalization of C$658.16 million, a price-to-earnings ratio of 4.58 and a beta of 1.49. Spartan Delta has a fifty-two week low of C$2.78 and a fifty-two week high of C$4.36. The company has a debt-to-equity ratio of 30.43, a current ratio of 0.93 and a quick ratio of 0.66.

Spartan Delta (TSE:SDE) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$0.02 EPS for the quarter. Spartan Delta had a net margin of 50.10% and a return on equity of 37.82%. The company had revenue of C$60.55 million for the quarter. As a group, research analysts predict that Spartan Delta will post 0.305004 earnings per share for the current 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.