Spartan Delta Corp. (TSE:SDE) Given Average Rating of “Strong Buy” by Brokerages

Shares of Spartan Delta Corp. (TSE:SDE) have been assigned a consensus recommendation of “Strong Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$6.29.

A number of analysts have weighed in on SDE shares. National Bank Financial raised shares of Spartan Delta to a “strong-buy” rating in a report on Thursday, January 30th. Desjardins raised shares of Spartan Delta to a “moderate buy” rating in a report on Thursday, January 30th. Scotiabank increased their price objective on shares of Spartan Delta from C$6.00 to C$7.50 in a research note on Thursday, January 30th. BMO Capital Markets dropped their price objective on shares of Spartan Delta from C$6.00 to C$5.00 in a research note on Friday, December 13th. Finally, National Bankshares increased their price objective on shares of Spartan Delta from C$5.75 to C$6.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th.

Spartan Delta Price Performance

Shares of Spartan Delta stock opened at C$2.99 on Tuesday. The company has a debt-to-equity ratio of 28.49, a current ratio of 0.80 and a quick ratio of 0.66. Spartan Delta has a fifty-two week low of C$2.90 and a fifty-two week high of C$4.36. The firm has a fifty day moving average price of C$3.67 and a two-hundred day moving average price of C$3.63. The company has a market cap of C$598.83 million, a PE ratio of 3.73 and a beta of 1.49.

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.