Spartan Delta (TSE:SDE) Announces Earnings Results

Spartan Delta (TSE:SDE) announced its quarterly earnings results on Tuesday. The company reported C$0.02 earnings per share (EPS) for the quarter, reports. The firm 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 Price Performance

SDE stock opened at C$3.60 on Thursday. The firm has a 50 day simple moving average of C$3.71 and a two-hundred day simple moving average of C$3.93. Spartan Delta has a one year low of C$2.63 and a one year high of C$4.36. 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 stock has a market cap of C$623.52 million, a PE ratio of 4.34 and a beta of 1.49.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. National Bankshares lowered their price objective on Spartan Delta from C$6.00 to C$5.50 in a research report on Friday, September 27th. CIBC increased their price target on Spartan Delta from C$6.00 to C$7.00 in a report on Monday, July 15th. Desjardins raised Spartan Delta from a “hold” rating to a “buy” rating and lifted their target price for the company from C$4.75 to C$5.00 in a research report on Monday, August 12th. Finally, Cormark upgraded shares of Spartan Delta to a “strong-buy” rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Spartan Delta has an average rating of “Buy” and a consensus price target of C$5.61.

Insider Activity

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

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.