Spartan Delta (TSE:SDE) Upgraded by National Bank Financial to Strong-Buy Rating

National Bank Financial upgraded shares of Spartan Delta (TSE:SDE) to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Desjardins upgraded Spartan Delta to a “moderate buy” rating in a research note on Thursday. Scotiabank lifted their price objective on Spartan Delta from C$6.00 to C$7.50 in a report on Thursday. National Bankshares lifted their price objective 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, BMO Capital Markets decreased their price objective on Spartan Delta from C$6.00 to C$5.00 in a report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$5.83.

Spartan Delta Trading Down 2.6 %

Shares of SDE opened at C$3.80 on Thursday. Spartan Delta has a 12-month low of C$2.78 and a 12-month high of C$4.36. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 30.43. 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. The stock’s 50-day moving average price is C$3.54 and its 200 day moving average price is C$3.69.

Spartan Delta (TSE:SDE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported C$0.02 earnings per share (EPS) for the quarter. Spartan Delta had a return on equity of 37.82% and a net margin of 50.10%. The firm 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.

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.