Spartan Delta (TSE:SDE) Posts Quarterly Earnings Results

Spartan Delta (TSE:SDE) issued its quarterly earnings results on Tuesday. The company reported C$0.02 EPS for the quarter, reports. 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 for the quarter.

Spartan Delta Stock Performance

Shares of SDE stock opened at C$3.60 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 30.43. The company has a 50 day moving average price of C$3.71 and a 200-day moving average price of C$3.93. Spartan Delta has a 52 week low of C$2.63 and a 52 week high of C$4.36. The firm has a market capitalization of C$623.52 million, a PE ratio of 4.34 and a beta of 1.49.

Insider Buying and Selling

In related news, Senior Officer Ojay Platt sold 16,333 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of C$4.00, for a total transaction of C$65,332.00. In related news, Senior Officer Ojay Platt sold 16,333 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$4.00, for a total transaction of C$65,332.00. Also, Senior Officer Martin Malek acquired 12,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of C$3.80 per share, for a total transaction of C$45,600.00. 12.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SDE has been the topic of several analyst reports. Desjardins raised Spartan Delta from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$4.75 to C$5.00 in a report on Monday, August 12th. Cormark upgraded shares of Spartan Delta to a “strong-buy” rating in a research note on Monday, September 23rd. National Bankshares cut their price objective on shares of Spartan Delta from C$6.00 to C$5.50 in a research report on Friday, September 27th. Finally, CIBC lifted their target price on shares of Spartan Delta from C$6.00 to C$7.00 in a report on Monday, July 15th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$5.61.

About Spartan Delta

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.