Spartan Delta (TSE:SDE) Trading Up 1% – Time to Buy?

Spartan Delta Corp. (TSE:SDE)’s share price rose 1% during mid-day trading on Friday . The stock traded as high as C$11.24 and last traded at C$11.21. 340,242 shares were traded during trading, a decline of 57% from the average daily volume of 793,335 shares. The stock had previously closed at C$11.10.

Wall Street Analysts Forecast Growth

SDE has been the topic of several recent analyst reports. BMO Capital Markets boosted 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 research note on Wednesday, May 6th. National Bank Financial increased their target price on shares of Spartan Delta from C$15.50 to C$16.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Roth Mkm set a C$13.50 price target on shares of Spartan Delta and gave the company a “buy” rating in a report on Wednesday, March 4th. TD boosted their price target on shares of 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. Finally, ATB Cormark Capital Markets upgraded shares of Spartan Delta from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$13.25 to C$17.00 in a research report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$13.52.

Spartan Delta Trading Up 1.0%

The company has a debt-to-equity ratio of 39.96, a quick ratio of 0.66 and a current ratio of 0.58. The stock has a market cap of C$2.27 billion, a P/E ratio of 36.16 and a beta of -0.01. The company has a 50-day simple moving average of C$12.41 and a 200-day simple moving average of C$10.60.

Spartan Delta (TSE:SDE) last announced 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 business had revenue of C$136.90 million for the quarter. On average, sell-side analysts forecast that Spartan Delta Corp. will post 0.305004 EPS for the current fiscal year.

Insider Activity

In other Spartan Delta news, insider Ojay Platt sold 5,582 shares of the stock in a transaction dated 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 of the company’s stock, valued at C$1,594,883.28. This represents a 4.36% decrease in their position. Also, insider Robert John Day sold 6,191 shares of the stock in a transaction dated 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 in the company, valued at approximately C$1,075,282.44. This represents a 6.42% decrease in their position. In the last quarter, insiders have sold 14,163 shares of company stock worth $177,690. 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.