Spartan Delta (TSE:SDE) Reaches New 12-Month High – Still a Buy?

Spartan Delta Corp. (TSE:SDE)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as C$12.16 and last traded at C$12.05, with a volume of 485833 shares traded. The stock had previously closed at C$11.96.

Analyst Ratings Changes

A number of brokerages have issued reports on SDE. National Bank Financial upped their price objective on Spartan Delta from C$7.50 to C$9.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Scotiabank lifted their target price on Spartan Delta from C$8.00 to C$11.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Roth Mkm set a C$13.50 price target on shares of Spartan Delta and gave the stock a “buy” rating in a report on Wednesday, March 4th. TD Securities increased their price target on shares of Spartan Delta from C$9.50 to C$12.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Finally, Ventum Financial raised their price objective on shares of Spartan Delta from C$10.50 to C$12.25 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Spartan Delta currently has an average rating of “Moderate Buy” and an average price target of C$11.09.

Spartan Delta Trading Up 0.8%

The firm has a 50 day moving average of C$9.69 and a 200 day moving average of C$7.51. The firm has a market cap of C$2.42 billion, a PE ratio of 34.43 and a beta of 0.31. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 29.03.

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.