CIBC Increases Spartan Delta (TSE:SDE) Price Target to C$4.00

Spartan Delta (TSE:SDE) had its price objective lifted by equities researchers at CIBC from C$3.75 to C$4.00 in a report released on Monday, BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s target price would suggest a potential downside of 3.61% from the stock’s current price.

A number of other research firms also recently issued reports on SDE. ATB Capital dropped their target price on shares of Spartan Delta from C$4.50 to C$4.25 and set a “sector perform” rating on the stock in a research report on Tuesday, February 27th. Desjardins reduced their price objective on shares of Spartan Delta from C$4.75 to C$4.50 and set a “buy” rating for the company in a research note on Friday, March 22nd. National Bankshares boosted their target price on Spartan Delta from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Raymond James dropped their target price on Spartan Delta from C$6.50 to C$5.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Finally, BMO Capital Markets set a C$5.50 target price on Spartan Delta and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Spartan Delta presently has an average rating of “Moderate Buy” and an average target price of C$6.29.

Spartan Delta Price Performance

Shares of SDE stock opened at C$4.15 on Monday. The firm’s 50 day moving average price is C$3.54 and its two-hundred day moving average price is C$3.44. The stock has a market cap of C$718.78 million, a PE ratio of 1.09 and a beta of 1.75. Spartan Delta has a 52-week low of C$2.63 and a 52-week high of C$16.66. 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 (TSE:SDE) last posted its quarterly earnings data on Monday, February 26th. The company reported C$0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.06. Spartan Delta had a return on equity of 68.13% and a net margin of 111.86%. The business had revenue of C$77.32 million during the quarter. As a group, analysts forecast that Spartan Delta will post 0.3506013 EPS 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.