Spartan Delta (TSE:SDE) Shares Down 3.9% – Here’s Why

Shares of Spartan Delta Corp. (TSE:SDE) fell 3.9% during mid-day trading on Monday . The stock traded as low as C$12.42 and last traded at C$12.63. 111,427 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 730,266 shares. The stock had previously closed at C$13.14.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SDE. National Bank Financial boosted their price target on Spartan Delta from C$15.50 to C$16.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Desjardins boosted their price target on Spartan Delta from C$9.50 to C$11.00 and gave the company a “hold” rating in a research note on Tuesday, February 24th. Roth Mkm set a C$13.50 price target on Spartan Delta and gave the company a “buy” rating in a research note on Wednesday, March 4th. TD Securities upped their price objective on shares of Spartan Delta from C$9.50 to C$12.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Finally, Ventum Financial upped their price objective on shares of Spartan Delta from C$10.50 to C$12.25 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$13.52.

Spartan Delta Trading Down 0.2%

The business’s fifty day moving average is C$12.58 and its 200-day moving average is C$9.90. The firm has a market cap of C$2.48 billion, a P/E ratio of 39.52 and a beta of 0.05. The company has a debt-to-equity ratio of 39.96, a quick ratio of 0.66 and a current ratio of 0.58.

Spartan Delta (TSE:SDE) last issued its quarterly earnings data on Tuesday, May 5th. The company reported C($0.07) earnings per share (EPS) for the quarter. The business 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%. Analysts predict that Spartan Delta Corp. will post 0.305004 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ojay Platt sold 5,582 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of C$13.04, for a total transaction of C$72,789.28. Following the transaction, the insider directly owned 122,307 shares of the company’s stock, valued at approximately 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 company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of C$13.04, for a total value of C$31,165.60. Following the transaction, the insider directly owned 83,609 shares in the company, valued at approximately C$1,090,261.36. This trade represents a 2.78% decrease in their ownership of the stock. 12.43% of the stock is owned by insiders.

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.