Spartan Delta (TSE:SDE) Reaches New 12-Month High – What’s Next?

Shares of Spartan Delta Corp. (TSE:SDE) reached a new 52-week high on Friday . The stock traded as high as C$14.03 and last traded at C$13.97, with a volume of 489945 shares traded. The stock had previously closed at C$13.37.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SDE. TD Securities increased 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 research note on Tuesday, February 24th. Scotiabank boosted their price objective on shares of Spartan Delta from C$8.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. BMO Capital Markets increased their target price on shares of Spartan Delta from C$13.50 to C$16.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Desjardins lifted their price target on shares of Spartan Delta from C$9.50 to C$11.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. Finally, National Bank Financial boosted their price target on shares of Spartan Delta from C$15.50 to C$16.00 and gave the company an “outperform” rating in a research 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$13.52.

Spartan Delta Stock Up 4.7%

The stock has a market cap of C$2.84 billion, a PE ratio of 45.16 and a beta of 0.05. The business has a 50 day moving average of C$12.19 and a 200-day moving average of C$9.50. The company has a current ratio of 0.58, a quick ratio of 0.66 and a debt-to-equity ratio of 39.96.

Spartan Delta (TSE:SDE) last posted its quarterly earnings data 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 net margin of 14.14% and a return on equity of 9.84%. Equities research analysts predict that Spartan Delta Corp. will post 0.305004 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 transaction of C$72,789.28. Following the completion of the sale, the insider owned 122,307 shares in the company, valued at C$1,594,883.28. This represents a 4.36% decrease in their position. Also, insider Robert John Day sold 2,390 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of C$13.04, for a total transaction of C$31,165.60. Following the transaction, the insider directly owned 83,609 shares in the company, valued at C$1,090,261.36. The trade was a 2.78% decrease in their ownership of the stock. 12.43% of the stock is owned by corporate insiders.

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.