Spartan Delta (TSE:SDE) Announces Quarterly Earnings Results

Spartan Delta (TSE:SDE) issued its earnings results on Wednesday. The company reported C$0.20 EPS for the quarter, FiscalAI reports. Spartan Delta had a return on equity of 9.84% and a net margin of 14.14%.The firm had revenue of C$166.14 million during the quarter.

Spartan Delta Stock Up 1.9%

Shares of TSE:SDE opened at C$11.55 on Friday. The firm has a market cap of C$2.34 billion, a P/E ratio of 37.26 and a beta of 0.24. The company has a quick ratio of 0.66, a current ratio of 0.58 and a debt-to-equity ratio of 39.96. Spartan Delta has a 12-month low of C$4.55 and a 12-month high of C$14.40. The business has a fifty day simple moving average of C$11.73 and a 200 day simple moving average of C$11.35.

Analysts Set New Price Targets

Several brokerages recently commented on SDE. Ventum Capital increased their price objective on shares of 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. Scotiabank upgraded Spartan Delta to a “strong-buy” rating in a research note on Friday, June 26th. Desjardins set a C$13.50 price objective on Spartan Delta and gave the company a “hold” rating in a report on Friday, July 17th. ATB Cormark Capital Markets upgraded Spartan Delta from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from C$13.25 to C$17.00 in a research report on Wednesday, May 6th. Finally, BMO Capital Markets increased their target price on 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Spartan Delta presently has a consensus rating of “Buy” and a consensus target price of C$13.84.

Insider Transactions at Spartan Delta

In other news, insider Robert John Day sold 6,191 shares of the stock in a transaction dated 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 completion of the sale, the insider owned 90,284 shares of the company’s stock, valued at approximately C$1,075,282.44. This represents a 6.42% decrease in their ownership of the stock. Also, insider Ojay Platt sold 5,582 shares of Spartan Delta 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$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 represents a 4.36% decrease in their ownership of the stock. Insiders sold a total of 14,163 shares of company stock worth $177,690 in the last quarter. Corporate insiders own 12.43% of the company’s stock.

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.