Brokerages Set Spartan Delta Corp. (TSE:SDE) Price Target at C$5.61

Spartan Delta Corp. (TSE:SDE) has been receiving positive feedback from analysts, with the average recommendation being a "Buy" based on the input from ten ratings firms, according to MarketBeat Ratings. Out of these analysts, one has categorized the stock with a hold rating, seven have provided buy ratings, and two have shown a strong buy sentiment towards the stock. The consensus target price for Spartan Delta among these brokers is C$5.61 for the next twelve months.

Recently, several equity analysts have provided updates concerning the SDE shares. For instance, National Bankshares revised their price target for Spartan Delta, lowering it from C$6.00 to C$5.50 in a report released on September 27. In contrast, Cormark upgraded Spartan Delta to a "strong buy" rating on September 23. Earlier, CIBC raised their target from C$6.00 to C$7.00 in a report on July 15. Additionally, Desjardins upgraded their recommendation from a "hold" to a "buy" and adjusted the price target from C$4.75 to C$5.00 in a note dated August 12.

Market Overview of Spartan Delta

On a recent trading day, Spartan Delta shares opened at C$3.65, reflecting a 50-day simple moving average of C$3.78 and a 200-day simple moving average of C$3.95. The market capitalization for Spartan Delta is around C$632.18 million, with a price-to-earnings (PE) ratio of 4.40 and a beta of 1.49. Over the past year, the stock has seen a low of C$2.63 and a high of C$4.52. Currently, Spartan Delta has a current ratio of 0.93, a quick ratio of 0.66, and a notably high debt-to-equity ratio of 30.43.

Furthermore, Spartan Delta recently disclosed their quarterly earnings on August 7, where it reported earnings per share (EPS) of C$0.09. The company demonstrated an impressive net margin of 50.10% and a return on equity of 37.82%, with quarterly revenues amounting to C$73.45 million. Analysts project that Spartan Delta will achieve an EPS of approximately 0.305004 for the ongoing year.

Insider Transactions

In relation to insider activity, Senior Officer Ojay Platt sold 16,333 shares of the company on August 13 at an average price of C$4.00, generating a total of C$65,332. Additionally, on September 13, Senior Officer Martin Malek bought 12,000 shares for an average price of C$3.80, totaling C$45,600. Currently, insiders own about 12.43% of Spartan Delta's stock.

Company Background

Spartan Delta Corp. is engaged in the exploration, development, and production of oil and natural gas reserves, primarily focused on Western Canada. Its key operational areas include Montney and Deep Basin. The firm was previously known as Return Energy Inc., before rebranding to Spartan Delta Corp. in May 2020. Established in 2006, the company is headquartered in Calgary, Canada.

Brokerages, Spartan, Delta