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

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SDE shares. Roth Mkm set a C$13.50 target price on shares of Spartan Delta and gave the stock a “buy” rating in a report on Wednesday, March 4th. Ventum Financial raised their price target on shares of Spartan Delta from C$10.50 to C$12.25 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Desjardins boosted 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 report on Tuesday, February 24th. 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 report on Wednesday, May 6th. Finally, TD Securities raised their target price on shares of Spartan Delta from C$9.50 to C$12.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$13.52.

Spartan Delta Stock Performance

The firm’s 50-day moving average price is C$12.19 and its two-hundred day moving average price is C$9.50. The company has a debt-to-equity ratio of 39.96, a quick ratio of 0.66 and a current ratio of 0.58. The stock has a market cap of C$2.84 billion, a price-to-earnings ratio of 45.16 and a beta of 0.05.

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

Insider Activity at Spartan Delta

In other Spartan Delta news, insider Robert John Day sold 2,390 shares of the business’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$31,165.60. Following the completion of the transaction, the insider 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. Also, insider Ojay Platt sold 5,582 shares of the company’s stock in a transaction dated 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 sale, the insider 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. Company 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.