Spartan Delta (TSE:SDE) Sets New 52-Week High – Here’s What Happened

Shares of Spartan Delta Corp. (TSE:SDE) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$12.75 and last traded at C$12.47, with a volume of 532724 shares changing hands. The stock had previously closed at C$11.97.

Analyst Ratings Changes

Several analysts have weighed in on SDE shares. BMO Capital Markets boosted their price target on shares of Spartan Delta from C$9.00 to C$11.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. TD Securities lifted their price objective on Spartan Delta from C$9.50 to C$12.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Roth Mkm set a C$13.50 target price on Spartan Delta and gave the company a “buy” rating in a research note on Wednesday, March 4th. Desjardins increased their target price on Spartan Delta from C$9.50 to C$11.00 and gave the company a “hold” rating in a report on Tuesday, February 24th. Finally, Scotiabank raised their price target on Spartan Delta from C$8.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Spartan Delta currently has a consensus rating of “Moderate Buy” and a consensus price target of C$11.09.

Spartan Delta Price Performance

The company has a market cap of C$2.54 billion, a PE ratio of 36.14 and a beta of 0.31. The business has a 50 day moving average of C$10.24 and a 200 day moving average of C$7.81. The company has a debt-to-equity ratio of 29.03, a current ratio of 0.87 and a quick ratio of 0.66.

About Spartan Delta

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.