Spartan Delta (TSE:SDE) Trading Up 0.3% – Still a Buy?

Spartan Delta Corp. (TSE:SDE) shares rose 0.3% on Wednesday . The stock traded as high as C$3.28 and last traded at C$3.25. Approximately 498,999 shares traded hands during trading, an increase of 81% from the average daily volume of 276,024 shares. The stock had previously closed at C$3.24.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. National Bankshares cut their target price on shares of Spartan Delta from C$6.00 to C$5.50 in a research report on Friday, September 27th. Cormark raised shares of Spartan Delta to a “strong-buy” rating in a research report on Monday, September 23rd. Finally, Desjardins upgraded shares of Spartan Delta from a “hold” rating to a “buy” rating and boosted their target price for the company from C$4.75 to C$5.00 in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$5.61.

Spartan Delta Trading Down 1.2 %

The stock’s fifty day moving average price is C$3.63 and its 200 day moving average price is C$3.90. 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 capitalization of C$578.49 million, a P/E ratio of 4.07 and a beta of 1.49.

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

Insider Activity at Spartan Delta

In other news, Senior Officer Martin Malek acquired 12,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of C$3.80 per share, with a total value of C$45,600.00. 12.43% of the stock is currently owned by insiders.

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.