Spartan Delta (TSE:SDE) Trading Down 3.9% – Should You Sell?

Spartan Delta Corp. (TSE:SDE)’s share price dropped 3.9% during trading on Monday . The company traded as low as C$12.42 and last traded at C$12.63. Approximately 111,427 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 730,266 shares. The stock had previously closed at C$13.14.

Wall Street Analyst Weigh In

SDE has been the topic of a number of research analyst reports. Roth Mkm set a C$13.50 price target on Spartan Delta and gave the company a “buy” rating in a report on Wednesday, March 4th. TD Securities boosted their target price on Spartan Delta from C$9.50 to C$12.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. National Bank Financial upped their target price on shares of Spartan Delta from C$15.50 to C$16.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. BMO Capital Markets raised their price target 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. Finally, Desjardins lifted 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 note on Tuesday, February 24th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$13.52.

Spartan Delta Trading Down 3.7%

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$2.57 billion, a PE ratio of 40.84 and a beta of 0.05. The stock has a 50 day moving average price of C$12.54 and a 200-day moving average price of C$9.82.

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

Insider Activity

In related news, insider Ojay Platt sold 5,582 shares of the business’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 transaction of C$72,789.28. Following the completion of the sale, 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. Also, 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 transaction of C$31,165.60. Following the sale, the insider directly owned 83,609 shares of the company’s stock, valued at approximately C$1,090,261.36. This represents a 2.78% decrease in their ownership of the stock. 12.43% of the stock is owned by corporate insiders.

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.