According to information from Bloomberg.com, the nine research analysts who track Spartan Delta Corp. (TSE: SDE) have given the company a “Buy” rating, which represents the group’s overall view on the matter. In their respective publications, four analysts suggested that investors buy the shares of the company in question. Brokerages have been hedging the stock for the past year and their average price target over the next year is CA$18.39.
On SDE, a variety of scientific investigations in various fields have been conducted. In a research note released Aug. 11, CIBC raised its price target on Spartan Delta shares from C$18.00 to C$19.50. They also upgraded the title from an “underperforming” rating to an “overperforming” rating in the same research rating. In a research note published Wednesday, August 10, Cormark said it would raise its price target for shares of Spartan Delta from C$22.50 to C$24.00. Shares of Spartan Delta were given a “buy” rating by BMO Capital Markets in a research report released by the brokerage on Wednesday, June 22. The brokerage company also set a price target for the company of C$18.00 and assigned the company a target price of C$18.00. Stifel Nicolaus raised his price target for shares of Spartan Delta from C$16.50 to C$17.50 in a research note made publicly available on Monday, July 4. In a research report released Wednesday, August 10, Raymond James finally gave Spartan Delta an “outperform” rating in a research report. Previously, the company had given the company an “underperforming” rating.
Separately, on September 29, director Tamara Macdonald sold 16,667 shares of the company. This follows other recent events that have taken place. The shares were sold on the open market for a total price of C$171,233.42, or C$10.27 per share. The Canadian dollar determined the price. Following the completion of the sale, the director will be the proud owner of 500,000 shares of the company, which together are worth approximately $5,136,900 in Canadian currency. Separately, on September 29, director Tamara Macdonald sold 16,667 shares of the company. This follows other recent events that have taken place. The shares were sold on the open market for a total price of C$171,233.42, or C$10.27 per share. The Canadian dollar determined the price. As a direct consequence of the operation, the manager now owns 500,000 shares. These shares have a value of approximately C$5,136,900, bringing the director’s total estate to approximately $5,136,900. A senior company executive named Craig Christopher Martin sold an additional 50,533 shares of the company on Friday, October 14. The sale of shares generated total revenue of C$597,300.06, with each share fetching an average price of C$11.82. As a direct result of the transaction, the insider of the company now owns 595,396 shares of the company, which have a combined value of C$7,037,580.72. Company insiders sold 92,525 shares of the company during the last fiscal quarter, bringing in a total of $1,026,595 from the trade.
The TSE:SDE market opened on Friday with an opening price of C$11.47. A debt ratio stands at 24.28, a quick ratio which stands at 0.57, a current ratio which stands at 0.71 and a quick ratio which stands at 0.57. Currently, a share of the company can be purchased for C$12.21, while the stock’s simple moving average for the past 200 days is C$12.34 per share. Over the past year, the price of Spartan Delta has ranged from a low of C$4.98 to a high of C$16.03. As a result, the average price paid was $12.03. The company has a price-to-earnings ratio of 3.63, which translates to a market value of C$1.78 billion for the company.
Spartan Delta’s (TSE:SDE) latest quarterly earnings report, which was made public to the stock exchange on August 9, 2018, is available here. The company reported quarterly earnings of C$1.05 per share, C$0.27 higher than the consensus estimate of C$0.78 provided by market experts. During the reporting period, the business generated total revenues of C$437.70 million. Sell-side analysts expect Spartan Delta to generate earnings of $2.93 per share for the current fiscal year. This is an increase over the previous year’s revenue.
Oil and natural gas rich properties in Western Canada are under the jurisdiction of Spartan Delta Corp., which is responsible for their exploration, development and production. Additionally, it operates its interests in oil and gas assets located in the Canadian provinces of British Columbia, Saskatchewan and Alberta. All of these assets are currently in operation. The company had total proven reserves and probable reserves which amounted to 545,734,000 thousand barrels of oil equivalent as of December 31, 2021.