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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Ventum Financial upped their price objective on shares of Spartan Delta from C$10.50 to C$12.25 and gave the company a “buy” rating in a report on Tuesday, February 24th. Roth Mkm set a C$13.50 target price on shares of Spartan Delta and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Scotiabank boosted their price target on shares of Spartan Delta from C$8.00 to C$11.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Desjardins upped their price target on shares of Spartan Delta from C$9.50 to C$11.00 and gave the company a “hold” rating in a research note on Tuesday, February 24th. Finally, BMO Capital Markets raised 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 report on Wednesday, February 11th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$11.09.

Spartan Delta Stock Performance

The business has a 50 day moving average of C$9.69 and a 200-day moving average of C$7.51. The company has a market capitalization of C$2.42 billion, a P/E ratio of 34.43 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.

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.