Spartan Delta (TSE:SDE) Reaches New 12-Month High – What’s Next?

Spartan Delta Corp. (TSE:SDE) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$10.00 and last traded at C$9.97, with a volume of 216068 shares trading hands. The stock had previously closed at C$9.54.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Ventum Financial boosted their target price on shares of Spartan Delta from C$9.00 to C$10.50 and gave the company a “buy” rating in a research report on Wednesday, January 28th. BMO Capital Markets boosted their price objective on Spartan Delta from C$9.00 to C$11.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Desjardins upped their target price on Spartan Delta from C$8.00 to C$8.50 and gave the stock a “hold” rating in a research note on Tuesday, January 6th. Scotiabank lifted their price target on Spartan Delta from C$8.00 to C$11.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Finally, National Bank Financial boosted their price target on Spartan Delta from C$7.50 to C$9.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Spartan Delta has an average rating of “Moderate Buy” and an average price target of C$9.79.

Spartan Delta Stock Up 4.0%

The firm has a market cap of C$1.99 billion, a price-to-earnings ratio of 49.60 and a beta of 0.45. The business has a fifty day simple moving average of C$8.19 and a 200 day simple moving average of C$6.66. The company has a debt-to-equity ratio of 28.49, a current ratio of 0.80 and a quick ratio of 0.66.

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.