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

Spartan Delta (TSE:SDE) had its price target increased by CIBC from C$3.75 to C$4.00 in a research report sent to investors on Monday, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

A number of other equities analysts have also commented on SDE. Stifel Nicolaus increased their price target on Spartan Delta from C$4.25 to C$4.50 and gave the company a buy rating in a research note on Tuesday, February 27th. ATB Capital cut their target price on shares of Spartan Delta from C$4.50 to C$4.25 and set a sector perform rating for the company in a report on Tuesday, February 27th. BMO Capital Markets set a C$5.50 price target on shares of Spartan Delta and gave the stock an outperform rating in a research report on Tuesday, April 9th. TD Securities lowered their price objective on shares of Spartan Delta from C$4.50 to C$4.25 and set a buy rating for the company in a research report on Tuesday, February 27th. Finally, National Bankshares upped their target price on shares of Spartan Delta from C$4.50 to C$5.00 and gave the company an outperform rating in a research report on Friday, April 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of C$6.29.

Spartan Delta Trading Down 1.4 %

Shares of SDE opened at C$4.09 on Monday. Spartan Delta has a 1 year low of C$2.63 and a 1 year high of C$16.66. The company has a 50 day simple moving average of C$3.57 and a two-hundred day simple moving average of C$3.45. The company has a debt-to-equity ratio of 18.55, a current ratio of 0.89 and a quick ratio of 0.66. The firm has a market cap of C$708.39 million, a P/E ratio of 1.07 and a beta of 1.75.

Spartan Delta (TSE:SDE) last announced its quarterly earnings results on Monday, February 26th. The company reported C$0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.06. Spartan Delta had a net margin of 111.86% and a return on equity of 68.13%. The company had revenue of C$77.32 million for the quarter. On average, equities analysts expect that Spartan Delta will post 0.3506013 earnings per share for the current fiscal 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.