Spartan Delta (TSE:SDE) Price Target Raised to C$11.00 at Scotiabank

Spartan Delta (TSE:SDE) had its price objective increased by research analysts at Scotiabank from C$8.00 to C$11.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 27.61% from the stock’s current price.

Several other analysts have also recently weighed in on SDE. National Bankshares boosted their price objective 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. BMO Capital Markets lifted their target price on Spartan Delta from C$7.50 to C$9.00 in a report on Tuesday, January 6th. Desjardins upped their price target on 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. CIBC raised their price objective on Spartan Delta from C$6.25 to C$9.00 in a research report on Wednesday, October 15th. Finally, Ventum Financial increased their target price on shares of Spartan Delta from C$7.00 to C$9.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$9.29.

Spartan Delta Trading Up 2.1%

TSE SDE traded up C$0.18 during trading hours on Wednesday, reaching C$8.62. The company’s stock had a trading volume of 308,013 shares, compared to its average volume of 727,571. The firm has a fifty day simple moving average of C$7.45 and a 200-day simple moving average of C$5.99. The company has a debt-to-equity ratio of 28.49, a current ratio of 0.80 and a quick ratio of 0.66. Spartan Delta has a 52 week low of C$2.39 and a 52 week high of C$8.71. The stock has a market cap of C$1.73 billion, a P/E ratio of 43.10 and a beta of 0.22.

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.