Spartan Delta (TSE:SDE) Shares Down 3.5% – Should You Sell?

Shares of Spartan Delta Corp. (TSE:SDE) fell 3.5% during mid-day trading on Monday . The company traded as low as C$3.79 and last traded at C$3.82. 357,672 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 493,206 shares. The stock had previously closed at C$3.96.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. BMO Capital Markets reduced their price objective on Spartan Delta from C$6.00 to C$5.00 in a research note on Friday, December 13th. National Bankshares lifted their price objective on shares of Spartan Delta from C$5.75 to C$6.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$5.63.

Spartan Delta Price Performance

The company has a market capitalization of C$663.36 million, a PE ratio of 4.61 and a beta of 1.49. The company has a debt-to-equity ratio of 30.43, a current ratio of 0.93 and a quick ratio of 0.66. The company’s 50 day simple moving average is C$3.53 and its 200 day simple moving average is C$3.69.

Spartan Delta (TSE:SDE) last announced its earnings results on Tuesday, November 5th. The company reported C$0.02 earnings per share (EPS) for the quarter. Spartan Delta had a return on equity of 37.82% and a net margin of 50.10%. The firm had revenue of C$60.55 million during the quarter. As a group, sell-side analysts predict that Spartan Delta Corp. will post 0.305004 earnings per share for the current year.

Spartan Delta Company Profile

Spartan Delta Corp. engages in the exploration, development, and production of oil and natural gas reserves in the Western Canada. Its assets are located in Montney and Deep Basin. The company was formerly known as Return Energy Inc and changed its name to Spartan Delta Corp. in May 2020. The company was incorporated in 2006 and is headquartered in Calgary, Canada.