Spartan Delta (TSE:SDE) Hits New 1-Year High – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Ventum Financial raised their target price on Spartan Delta from C$10.50 to C$12.25 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Scotiabank raised their target price on Spartan Delta from C$8.00 to C$11.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. National Bank Financial raised their target price on Spartan Delta from C$15.50 to C$16.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. TD Securities raised their target price on Spartan Delta from C$9.50 to C$12.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Finally, Ventum Capital raised their target price on Spartan Delta from C$14.50 to C$15.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$13.52.

Spartan Delta Trading Up 5.2%

The company has a quick ratio of 0.66, a current ratio of 0.58 and a debt-to-equity ratio of 39.96. The stock has a fifty day simple moving average of C$12.26 and a 200 day simple moving average of C$9.54. The firm has a market capitalization of C$2.85 billion, a P/E ratio of 45.39 and a beta of 0.05.

Spartan Delta (TSE:SDE) last posted its quarterly earnings results on Tuesday, May 5th. The company reported C($0.07) EPS for the quarter. The business had revenue of C$136.90 million for the quarter. Spartan Delta had a net margin of 14.14% and a return on equity of 9.84%. As a group, research analysts forecast that Spartan Delta Corp. will post 0.305004 EPS for the current year.

Insider Transactions at Spartan Delta

In other Spartan Delta news, insider Ojay Platt sold 5,582 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of C$13.04, for a total transaction of C$72,789.28. Following the sale, the insider directly owned 122,307 shares of the company’s stock, valued at C$1,594,883.28. This trade represents a 4.36% decrease in their ownership of the stock. Also, insider Robert John Day sold 2,390 shares of the firm’s stock in a transaction dated 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 sale, the insider directly 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. 12.43% of the stock is owned by company 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.