Spartan Delta (TSE:SDE) Sets New 12-Month High – Time to Buy?

Spartan Delta Corp. (TSE:SDE)’s share price reached a new 52-week high on Tuesday . The company traded as high as C$8.08 and last traded at C$8.01, with a volume of 234671 shares. The stock had previously closed at C$7.84.

Analyst Ratings Changes

SDE has been the subject of several research analyst reports. Desjardins increased their price objective on Spartan Delta from C$8.00 to C$8.50 and gave the stock a “hold” rating in a report on Tuesday, January 6th. Ventum Financial raised their price target on Spartan Delta from C$7.00 to C$9.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Scotiabank boosted their price objective on shares of Spartan Delta from C$7.50 to C$8.00 in a research report on Thursday, October 9th. TD Securities raised their target price 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. Finally, BMO Capital Markets boosted their price target on shares of Spartan Delta from C$7.50 to C$9.00 in a research report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Spartan Delta presently has an average rating of “Buy” and a consensus price target of C$8.86.

Spartan Delta Price Performance

The firm has a market cap of C$1.61 billion, a P/E ratio of 40.05 and a beta of 0.22. 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 firm’s 50 day moving average is C$7.28 and its 200 day moving average is C$5.80.

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.