Spartan Delta (TSE:SDE) Hits New 1-Year High on Analyst Upgrade

Spartan Delta Corp. (TSE:SDE)’s share price reached a new 52-week high on Tuesday after Desjardins raised their price target on the stock from C$9.50 to C$11.00. Desjardins currently has a hold rating on the stock. Spartan Delta traded as high as C$10.81 and last traded at C$10.48, with a volume of 848667 shares trading hands. The stock had previously closed at C$10.23.

Other equities research analysts also recently issued reports about the stock. National Bank Financial increased their price objective on shares of Spartan Delta from C$7.50 to C$9.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Scotiabank boosted 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 research note on Wednesday, January 21st. BMO Capital Markets increased their target price on Spartan Delta from C$9.00 to C$11.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. TD Securities lifted their price target on Spartan Delta from C$9.50 to C$12.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Ventum Financial upped their price objective on Spartan Delta from C$10.50 to C$12.25 and gave the stock a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$10.75.

Spartan Delta Stock Performance

The company has a debt-to-equity ratio of 28.49, a current ratio of 0.80 and a quick ratio of 0.66. The stock has a market cap of C$2.03 billion, a price-to-earnings ratio of 50.75 and a beta of 0.45. The stock’s 50-day moving average is C$8.55 and its 200 day moving average is C$6.87.

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.