Spartan Delta (TSE:SDE) Reaches New 52-Week High – Time to Buy?

Spartan Delta Corp. (TSE:SDE)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$11.59 and last traded at C$11.07, with a volume of 89563 shares changing hands. The stock had previously closed at C$10.95.

Analyst Ratings Changes

SDE has been the subject of several recent analyst reports. Ventum Financial raised their target price on shares of Spartan Delta from C$10.50 to C$12.25 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Scotiabank lifted their price target on 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 upped their price objective on Spartan Delta from C$9.00 to C$11.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. National Bank Financial raised their target price on shares of Spartan Delta from C$7.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Finally, Desjardins increased their price target on shares of Spartan Delta from C$9.50 to C$11.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$10.75.

Spartan Delta Price Performance

The company has a market capitalization of C$2.20 billion, a P/E ratio of 54.90 and a beta of 0.45. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 28.49. The business has a 50 day simple moving average of C$8.70 and a 200-day simple moving average of C$6.97.

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.