Spartan Delta (TSE:SDE) Upgraded by BMO Capital Markets to “Buy”

Spartan Delta (TSE:SDEGet Rating) was upgraded by research analysts at BMO Capital Markets to a “buy” rating in a report released on Wednesday, TipRanks reports. The firm presently has a C$18.00 target price on the stock. BMO Capital Markets’ price target would suggest a potential upside of 58.73% from the stock’s current price.

Several other equities analysts also recently weighed in on SDE. National Bankshares reduced their price target on Spartan Delta from C$18.00 to C$14.50 in a report on Thursday, April 14th. Raymond James raised their price target on Spartan Delta from C$10.00 to C$13.00 and gave the company an “outperform” rating in a report on Friday, March 25th. CIBC raised their price target on Spartan Delta from C$11.00 to C$16.00 and gave the company an “outperform” rating in a report on Thursday, April 14th. Stifel Nicolaus raised their price target on Spartan Delta from C$14.00 to C$16.50 in a report on Thursday, May 12th. Finally, Scotiabank raised their price target on Spartan Delta from C$14.00 to C$17.00 in a report on Tuesday, March 8th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Spartan Delta currently has a consensus rating of “Buy” and an average price target of C$14.55.

SDE opened at C$11.34 on Wednesday. The business has a fifty day moving average price of C$13.14. The company has a debt-to-equity ratio of 43.02, a quick ratio of 0.46 and a current ratio of 0.54. The company has a market capitalization of C$1.76 billion and a P/E ratio of 5.26. Spartan Delta has a 12-month low of C$3.92 and a 12-month high of C$16.03.

Spartan Delta (TSE:SDEGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported C$0.36 earnings per share for the quarter, missing the consensus estimate of C$0.50 by C($0.14). The firm had revenue of C$322.42 million during the quarter. On average, sell-side analysts predict that Spartan Delta will post 2.7399999 EPS for the current fiscal year.

In other Spartan Delta news, Director Fotis Kalantzis sold 54,400 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of C$12.39, for a total value of C$673,874.56. Following the transaction, the director now directly owns 1,123,134 shares of the company’s stock, valued at C$13,912,710.11. Also, Director Donald Archibald bought 16,666 shares of the company’s stock in a transaction on Thursday, April 14th. The stock was purchased at an average cost of C$3.00 per share, for a total transaction of C$49,998.00. Following the completion of the transaction, the director now directly owns 1,063,234 shares of the company’s stock, valued at approximately C$3,189,702.

Spartan Delta Company Profile (Get Rating)

Spartan Delta Corp. engages in the exploration, development, and production of petroleum and natural gas properties in the Western Canada. It also owns and operates oil and gas properties in Alberta, Saskatchewan, and British Columbia. As of December 31, 2021, company owned total proved plus probable reserves of 545,734 thousand barrels of oil equivalent.

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