Spartan Delta (TSE:SDE) Reaches New 1-Year High – Here’s Why

Shares of Spartan Delta Corp. (TSE:SDE) hit a new 52-week high on Tuesday . The company traded as high as C$10.81 and last traded at C$10.48, with a volume of 848667 shares trading hands. The stock had previously closed at C$10.23.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Scotiabank increased their target price on shares of 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. TD Securities increased their price objective on shares of Spartan Delta from C$7.50 to C$9.50 and gave the company a “buy” rating in a report on Tuesday, January 6th. National Bank Financial raised their target price on shares of Spartan Delta from C$7.50 to C$9.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Desjardins boosted their target price on Spartan Delta from C$8.00 to C$8.50 and gave the stock a “hold” rating in a report on Tuesday, January 6th. Finally, BMO Capital Markets increased their price target 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. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$9.79.

Spartan Delta Stock Up 2.4%

The company has a debt-to-equity ratio of 28.49, a current ratio of 0.80 and a quick ratio of 0.66. The company has a market capitalization of C$2.10 billion, a PE ratio of 52.40 and a beta of 0.45. The business’s 50 day simple moving average is C$8.41 and its 200 day simple moving average is C$6.81.

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.