Insider Selling: Spartan Delta (TSE:SDE) Insider Sells 2,390 Shares of Stock

Spartan Delta Corp. (TSE:SDE) insider Robert John Day sold 2,390 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of C$13.04, for a total transaction of C$31,165.60. Following the transaction, the insider owned 83,609 shares in the company, valued at approximately C$1,090,261.36. This represents a 2.78% decrease in their ownership of the stock.

Spartan Delta Stock Up 0.2%

Shares of TSE:SDE traded up C$0.03 during midday trading on Thursday, hitting C$13.41. 216,996 shares of the stock were exchanged, compared to its average volume of 724,069. The company has a market capitalization of C$2.72 billion, a PE ratio of 43.26 and a beta of 0.05. Spartan Delta Corp. has a 52-week low of C$2.77 and a 52-week high of C$14.00. The company has a debt-to-equity ratio of 39.96, a quick ratio of 0.66 and a current ratio of 0.58. The business’s fifty day simple moving average is C$12.14 and its two-hundred day simple moving average is C$9.45.

Spartan Delta (TSE:SDE) last issued its earnings results on Tuesday, May 5th. The company reported C($0.07) earnings per share for the quarter. The firm had revenue of C$136.90 million during the quarter. Spartan Delta had a return on equity of 9.84% and a net margin of 14.14%. As a group, research analysts predict that Spartan Delta Corp. will post 0.305004 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SDE shares. TD Securities raised their price target on shares of Spartan Delta from C$9.50 to C$12.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Ventum Capital raised their target price on Spartan Delta from C$14.50 to C$15.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. ATB Cormark Capital Markets raised Spartan Delta from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$13.25 to C$17.00 in a report on Wednesday, May 6th. Ventum Financial increased their price target on Spartan Delta from C$10.50 to C$12.25 and gave the company a “buy” rating in a report on Tuesday, February 24th. Finally, BMO Capital Markets lifted their target price on shares of Spartan Delta from C$13.50 to C$16.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Spartan Delta presently has an average rating of “Moderate Buy” and a consensus price target of C$13.52.

About Spartan Delta

Spartan is committed to creating value for its shareholders, focused on sustainability in both operations and financial performance. The Company’s culture is centered on generating Free Funds Flow through responsible oil and gas exploration and development. The Company has established a portfolio of high-quality production and development opportunities in the Deep Basin and the Duvernay. Spartan will continue to focus on the execution of the Company’s organic drilling program across its portfolio, delivering operational synergies in a respectful and responsible manner in relation to the environment and communities it operates in.