Spartan Delta (TSE:SDE) Releases Earnings Results

Spartan Delta (TSE:SDE) issued its quarterly earnings data on Tuesday. The company reported C$0.02 EPS for the quarter, reports. The business had revenue of C$60.55 million during the quarter. Spartan Delta had a net margin of 50.10% and a return on equity of 37.82%.

Spartan Delta Stock Down 1.5 %

Shares of TSE SDE traded down C$0.05 during mid-day trading on Friday, reaching C$3.38. 3,501 shares of the company were exchanged, compared to its average volume of 273,301. Spartan Delta has a 1 year low of C$2.63 and a 1 year high of C$4.36. The stock has a market cap of C$585.42 million, a price-to-earnings ratio of 4.14 and a beta of 1.49. 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 firm has a 50-day moving average of C$3.70 and a 200 day moving average of C$3.93.

Insider Transactions at Spartan Delta

In related news, Senior Officer Martin Malek purchased 12,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were acquired at an average price of C$3.80 per share, for a total transaction of C$45,600.00. In other news, Senior Officer Ojay Platt sold 16,333 shares of the firm’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. Also, Senior Officer Martin Malek acquired 12,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average price of C$3.80 per share, for a total transaction of C$45,600.00. Insiders own 12.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SDE. National Bankshares dropped their price target on shares of Spartan Delta from C$6.00 to C$5.50 in a report on Friday, September 27th. Desjardins raised Spartan Delta from a “hold” rating to a “buy” rating and increased their price target for the company from C$4.75 to C$5.00 in a research note on Monday, August 12th. Cormark raised shares of Spartan Delta to a “strong-buy” rating in a report on Monday, September 23rd. Finally, CIBC increased their target price on shares of Spartan Delta from C$6.00 to C$7.00 in a research note on Monday, July 15th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average 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.