Spartan Delta (TSE:SDE) Shares Up 1% – What’s Next?

Shares of Spartan Delta Corp. (TSE:SDE) traded up 1% on Friday . The stock traded as high as C$11.24 and last traded at C$11.21. 340,242 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 793,335 shares. The stock had previously closed at C$11.10.

Analyst Ratings Changes

Several research firms have issued reports on SDE. ATB Cormark Capital Markets raised Spartan Delta from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$13.25 to C$17.00 in a report on Wednesday, May 6th. Ventum Capital lifted their target price on Spartan Delta from C$14.50 to C$15.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. National Bank Financial boosted their target price on Spartan Delta from C$15.50 to C$16.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. BMO Capital Markets upped their price target on Spartan Delta from C$13.50 to C$16.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, TD raised their price target on Spartan Delta from C$14.00 to C$16.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Spartan Delta has a consensus rating of “Moderate Buy” and a consensus target price of C$13.52.

Spartan Delta Stock Performance

The company has a debt-to-equity ratio of 39.96, a current ratio of 0.58 and a quick ratio of 0.66. The firm has a market capitalization of C$2.27 billion, a P/E ratio of 36.16 and a beta of -0.01. The stock’s 50 day moving average is C$12.41 and its two-hundred day moving average is C$10.60.

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

Insider Buying and Selling at Spartan Delta

In other news, insider Robert John Day sold 6,191 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of C$11.91, for a total value of C$73,734.81. Following the transaction, the insider owned 90,284 shares of the company’s stock, valued at C$1,075,282.44. This represents a 6.42% decrease in their position. Also, insider Ojay Platt sold 5,582 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of C$13.04, for a total value of C$72,789.28. Following the completion of the transaction, the insider directly owned 122,307 shares in the company, valued at approximately C$1,594,883.28. This trade represents a 4.36% decrease in their position. Insiders have sold a total of 14,163 shares of company stock valued at $177,690 in the last quarter. Corporate insiders own 12.43% of the company’s stock.

Spartan Delta Company Profile

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.