Spartan Delta (TSE:SDE) Stock Price Down 3.9% – What’s Next?

Spartan Delta Corp. (TSE:SDE) shares fell 3.9% during trading on Monday . The stock traded as low as C$12.42 and last traded at C$12.63. 111,427 shares were traded 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.

Analyst Ratings Changes

A number of research firms have weighed in on SDE. BMO Capital Markets upped their target price on Spartan Delta from C$13.50 to C$16.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. ATB Cormark Capital Markets upgraded Spartan Delta from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$13.25 to C$17.00 in a research note on Wednesday, May 6th. Roth Mkm set a C$13.50 price target on Spartan Delta and gave the stock a “buy” rating in a research note on Wednesday, March 4th. TD increased their price objective on Spartan Delta from C$14.00 to C$16.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Ventum Financial raised their price objective on Spartan Delta from C$10.50 to C$12.25 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Spartan Delta currently has an average rating of “Moderate Buy” and a consensus price target of C$13.52.

Spartan Delta Trading Down 3.7%

The stock has a 50-day moving average of C$12.54 and a two-hundred day moving average of C$9.82. The company has a market cap of C$2.57 billion, a P/E ratio of 40.84 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 released its earnings results on Tuesday, May 5th. The company reported C($0.07) EPS for the quarter. Spartan Delta had a return on equity of 9.84% and a net margin of 14.14%.The company had revenue of C$136.90 million during the quarter. On average, equities research analysts predict that Spartan Delta Corp. will post 0.305004 earnings per share for the current year.

Insider Transactions at Spartan Delta

In other news, insider Robert John Day sold 2,390 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 83,609 shares in the company, valued at approximately C$1,090,261.36. This represents a 2.78% decrease in their ownership of the stock. Also, insider Ojay Platt sold 5,582 shares of the stock in a transaction that occurred 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 sale, the insider owned 122,307 shares in the company, valued at approximately C$1,594,883.28. The trade was a 4.36% decrease in their position. 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.