Spartan Delta (TSE:SDE) Sets New 52-Week High – What’s Next?

Spartan Delta Corp. (TSE:SDE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$7.83 and last traded at C$7.77, with a volume of 188054 shares changing hands. The stock had previously closed at C$7.57.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SDE. Desjardins upped their target price on shares of Spartan Delta from C$7.00 to C$8.00 and gave the stock a “hold” rating in a report on Monday, November 24th. Scotiabank boosted their price target on shares of Spartan Delta from C$7.50 to C$8.00 in a research report on Thursday, October 9th. TD Securities upped their price objective on shares of Spartan Delta from C$7.00 to C$7.50 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, CIBC lifted their target price on shares of Spartan Delta from C$6.25 to C$9.00 in a research note on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Spartan Delta has an average rating of “Buy” and an average target price of C$6.96.

Spartan Delta Price Performance

The stock has a fifty day moving average of C$6.28 and a 200-day moving average of C$5.00. The firm has a market capitalization of C$1.54 billion, a P/E ratio of 38.35 and a beta of 0.29. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 28.49.

Spartan Delta Company Profile

Spartan Delta Corp is an oil and gas exploration and production company. It is engaged in the exploration, development, and production of petroleum and natural gas properties in Alberta. The company operates and focuses its activities on Peace River Arch and Central Alberta.