Spartan Delta (TSE:SDE) Issues Earnings Results

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

Spartan Delta Trading Up 1.6%

Shares of SDE stock opened at C$11.33 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.66 and a debt-to-equity ratio of 39.96. The stock 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 12-month low of C$4.55 and a 12-month high of C$14.40. The stock’s 50-day moving average price is C$11.76 and its 200-day moving average price is C$11.32.

Insider Activity at Spartan Delta

In other news, insider Robert John Day sold 6,191 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was 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. This represents a 6.42% decrease in their position. Also, insider Ojay Platt sold 5,582 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 122,307 shares of the company’s stock, valued at approximately C$1,594,883.28. This trade represents a 4.36% decrease in their ownership of the stock. Insiders have sold a total of 14,163 shares of company stock valued at $177,690 in the last 90 days. 12.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on SDE. TD boosted their price target on Spartan Delta from C$14.00 to C$16.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. BMO Capital Markets upped their target price on shares of Spartan Delta from C$13.50 to C$16.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. National Bank Financial increased their price objective on shares of Spartan Delta from C$15.50 to C$16.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Ventum Capital raised 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 report on Wednesday, May 6th. Finally, Desjardins set a C$13.50 target price on shares of Spartan Delta and gave the company a “hold” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target 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.