Spartan Delta (TSE:SDE) Sets New 52-Week High – Time to Buy?

Shares of Spartan Delta Corp. (TSE:SDE) hit a new 52-week high on Wednesday . The stock traded as high as C$10.00 and last traded at C$9.97, with a volume of 216068 shares traded. The stock had previously closed at C$9.54.

Analyst Ratings Changes

Several brokerages have recently issued reports on SDE. TD Securities increased their price target on shares of Spartan Delta from C$7.50 to C$9.50 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Scotiabank increased their target price on shares of Spartan Delta from C$8.00 to C$11.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. 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 note on Tuesday, January 6th. Ventum Financial upped their price objective on Spartan Delta from C$9.00 to C$10.50 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, BMO Capital Markets increased their price objective on Spartan Delta from C$9.00 to C$11.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Spartan Delta presently has an average rating of “Moderate Buy” and an average price target of C$9.79.

Spartan Delta Trading Up 4.0%

The business’s fifty day simple moving average is C$8.19 and its two-hundred day simple moving average is C$6.66. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 28.49. The company has a market cap of C$1.99 billion, a price-to-earnings ratio of 49.60 and a beta of 0.45.

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.