Spartan Delta (TSE:SDE) PT Set at C$13.50 by Desjardins

Spartan Delta (TSE:SDE) received a C$13.50 price objective from equities researchers at Desjardins in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price objective suggests a potential upside of 18.21% from the stock’s current price.

Other analysts have also recently issued reports about the company. ATB Cormark Capital Markets upgraded Spartan Delta from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$13.25 to C$17.00 in a research report on Wednesday, May 6th. TD lifted their price objective on Spartan Delta from C$14.00 to C$16.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Ventum Capital upped their target price on shares of 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. Scotiabank raised Spartan Delta to a “strong-buy” rating in a research note on Friday, June 26th. Finally, BMO Capital Markets raised their price objective on shares of Spartan Delta from C$13.50 to C$16.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$13.75.

Spartan Delta Stock Performance

Shares of TSE:SDE traded down C$0.11 during midday trading on Friday, hitting C$11.42. The company’s stock had a trading volume of 368,687 shares, compared to its average volume of 762,201. The stock has a market capitalization of C$2.31 billion, a price-to-earnings ratio of 36.84 and a beta of 0.24. The stock’s 50 day simple moving average is C$12.07 and its 200 day simple moving average is C$11.05. 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 has a fifty-two week low of C$4.43 and a fifty-two week high of C$14.40.

Spartan Delta (TSE:SDE) last issued its quarterly 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 business had revenue of C$136.90 million during the quarter. As a group, research analysts anticipate that Spartan Delta will post 0.305004 earnings per share for the current year.

Insider Activity 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 shares were sold at an average price of C$11.91, for a total transaction of C$73,734.81. Following the completion of the transaction, the insider directly owned 90,284 shares in the company, 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 that occurred 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 owned 122,307 shares of the company’s stock, 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 90 days. 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.