Insider Selling: Spartan Delta (TSE:SDE) Insider Sells C$31,165.60 in Stock

Spartan Delta Corp. (TSE:SDE) insider Robert John Day sold 2,390 shares of Spartan Delta stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of C$13.04, for a total transaction of C$31,165.60. Following the sale, the insider owned 83,609 shares in the company, valued at C$1,090,261.36. This represents a 2.78% decrease in their position.

Spartan Delta Price Performance

Shares of TSE:SDE traded up C$0.03 during midday trading on Thursday, reaching C$13.41. 216,996 shares of the company’s stock were exchanged, compared to its average volume of 724,069. The firm has a market capitalization of C$2.72 billion, a PE ratio of 43.26 and a beta of 0.05. The company’s 50 day simple moving average is C$12.14 and its two-hundred day simple moving average is C$9.45. Spartan Delta Corp. has a 12 month low of C$2.77 and a 12 month high of C$14.00. The company has a debt-to-equity ratio of 39.96, a quick ratio of 0.66 and a current ratio of 0.58.

Spartan Delta (TSE:SDE) last announced its quarterly 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. Equities research analysts expect that Spartan Delta Corp. will post 0.305004 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SDE. ATB Cormark Capital Markets raised shares of Spartan Delta from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$13.25 to C$17.00 in a report on Wednesday, May 6th. TD lifted their target price on shares of Spartan Delta from C$14.00 to C$16.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Ventum Capital boosted 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. Scotiabank raised their price target on Spartan Delta from C$8.00 to C$11.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Finally, Desjardins boosted their price objective on Spartan Delta from C$9.50 to C$11.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$13.52.

Spartan Delta Company Profile

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.