Spartan Delta (TSE:SDE) Sets New 1-Year High – Still a Buy?

Spartan Delta Corp. (TSE:SDE) shares reached a new 52-week high during trading on Monday . The company 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 Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Ventum Financial raised their target price on shares of Spartan Delta from C$7.00 to C$9.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Scotiabank boosted their price objective on shares of Spartan Delta from C$7.50 to C$8.00 in a research report on Thursday, October 9th. TD Securities boosted their price target on Spartan Delta from C$7.50 to C$9.50 and gave the company a “buy” rating in a report on Tuesday, January 6th. BMO Capital Markets boosted their price objective on shares of Spartan Delta from C$7.50 to C$9.00 in a research report on Tuesday, January 6th. Finally, Desjardins boosted their price target on shares of Spartan Delta from C$8.00 to C$8.50 and gave the company a “hold” rating in a research report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$8.86.

Spartan Delta Stock Up 1.2%

The company has a market capitalization of C$1.67 billion, a PE ratio of 41.55 and a beta of 0.22. The company has a 50-day moving average of C$7.40 and a two-hundred day moving average of C$5.92. The company has a debt-to-equity ratio of 28.49, a current ratio of 0.80 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.