Spartan Delta (TSE:SDE) Posts Earnings Results

Spartan Delta (TSE:SDE) issued its quarterly earnings data on Wednesday. The company reported C$0.20 earnings per share 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 Performance

Spartan Delta stock traded up C$0.18 during mid-day trading on Wednesday, reaching C$11.33. 356,879 shares of the company traded hands, compared to its average volume of 753,355. The firm’s fifty day moving average is C$11.80 and its two-hundred day moving average is C$11.29. The company has a market capitalization of C$2.30 billion, a price-to-earnings ratio of 36.55 and a beta of 0.24. Spartan Delta has a fifty-two week low of C$4.55 and a fifty-two week high of C$14.40. The company has a debt-to-equity ratio of 39.96, a current ratio of 0.58 and a quick ratio of 0.66.

Insider Buying and Selling at Spartan Delta

In other news, insider Robert John Day sold 6,191 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of C$11.91, for a total transaction of C$73,734.81. Following the sale, the insider directly owned 90,284 shares of the company’s stock, valued at C$1,075,282.44. The trade was a 6.42% decrease in their ownership of the stock. Also, insider Ojay Platt sold 5,582 shares of the company’s 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. The trade was a 4.36% decrease in their ownership of the stock. Insiders have sold 14,163 shares of company stock valued at $177,690 over the last quarter. Insiders own 12.43% of the company’s stock.

Analyst Upgrades and Downgrades

SDE has been the subject of a number of analyst reports. Desjardins set a C$13.50 target price on shares of Spartan Delta and gave the company a “hold” rating in a research report on Friday, July 17th. ATB Cormark Capital Markets raised Spartan Delta from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$13.25 to C$17.00 in a research report on Wednesday, May 6th. National Bank Financial upped their price target 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 raised their price objective on Spartan Delta from C$13.50 to C$16.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, Ventum Capital raised their price objective on Spartan Delta from C$14.50 to C$15.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Spartan Delta presently has an average rating of “Buy” and an average target price of C$13.75.

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.