Spartan Delta (TSE:SDE) Reaches New 12-Month High – Time to Buy?

Spartan Delta Corp. (TSE:SDE) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$8.36 and last traded at C$8.31, with a volume of 85771 shares trading hands. The stock had previously closed at C$8.21.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. National Bankshares raised their target price on Spartan Delta from C$7.50 to C$9.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Ventum Financial boosted their price target on Spartan Delta from C$7.00 to C$9.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. TD Securities raised their price objective on Spartan Delta from C$7.50 to C$9.50 and gave the company a “buy” rating in a research report on Tuesday, January 6th. BMO Capital Markets lifted their price objective on Spartan Delta from C$7.50 to C$9.00 in a research note on Tuesday, January 6th. Finally, Desjardins raised their price target on Spartan Delta from C$8.00 to C$8.50 and gave the company a “hold” rating in a report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Spartan Delta presently has a consensus rating of “Buy” and an average price target of C$8.86.

Spartan Delta Price Performance

The stock has a market capitalization of C$1.69 billion, a PE ratio of 42.20 and a beta of 0.22. The firm’s fifty day moving average price is C$7.45 and its two-hundred day moving average price is C$5.99. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 28.49.

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.