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

Spartan Delta Corp. (TSE:SDE)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$11.59 and last traded at C$11.42, with a volume of 711873 shares trading hands. The stock had previously closed at C$11.34.

Wall Street Analysts Forecast Growth

SDE has been the subject of a number of recent research reports. Roth Mkm set a C$13.50 price target on Spartan Delta and gave the stock a “buy” rating in a research report on Wednesday, March 4th. BMO Capital Markets boosted their price objective on shares of Spartan Delta from C$9.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. TD Securities increased their target price on shares of Spartan Delta from C$9.50 to C$12.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Ventum Financial raised their target price on shares of Spartan Delta from C$10.50 to C$12.25 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Finally, National Bank Financial boosted their price target on shares of Spartan Delta from C$7.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Spartan Delta currently has an average rating of “Moderate Buy” and an average target price of C$11.09.

Spartan Delta Trading Up 0.1%

The company has a market cap of C$2.28 billion, a price-to-earnings ratio of 32.43 and a beta of 0.31. The company has a debt-to-equity ratio of 29.03, a quick ratio of 0.66 and a current ratio of 0.87. The firm has a fifty day moving average price of C$9.42 and a 200 day moving average price of C$7.37.

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.