Cormark upgraded shares of Spartan Delta (TSE:SDE – Free Report) to a strong-buy rating in a research note issued to investors on Monday, Zacks.com reports.
Several other equities analysts also recently commented on the stock. CIBC boosted their price target on shares of Spartan Delta from C$6.00 to C$7.00 in a research note on Monday, July 15th. Desjardins raised Spartan Delta from a hold rating to a buy rating and boosted their target price for the stock from C$4.75 to C$5.00 in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of C$5.67.
Get Our Latest Stock Analysis on SDE
Spartan Delta Trading Down 3.5 %
Spartan Delta (TSE:SDE – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported C$0.09 earnings per share (EPS) for the quarter. Spartan Delta had a net margin of 50.10% and a return on equity of 37.82%. The company had revenue of C$73.45 million for the quarter. On average, equities analysts forecast that Spartan Delta will post 0.2986497 earnings per share for the current year.
Insider Buying and Selling
In other news, Senior Officer Martin Malek bought 12,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average cost of C$3.80 per share, with a total value of C$45,600.00. In other Spartan Delta news, Senior Officer Ojay Platt sold 16,333 shares of Spartan Delta stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$4.00, for a total value of C$65,332.00. Also, Senior Officer Martin Malek bought 12,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of C$3.80 per share, with a total value of C$45,600.00. 12.44% of the stock is owned by company insiders.
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.
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