Spartan Delta (TSE:SDE) Reaches New 1-Year High on Analyst Upgrade

Spartan Delta Corp. (TSE:SDE) hit a new 52-week high during mid-day trading on Tuesday after Desjardins raised their price target on the stock from C$8.00 to C$8.50. Desjardins currently has a hold rating on the stock. Spartan Delta traded as high as C$8.08 and last traded at C$7.71, with a volume of 342179 shares trading hands. The stock had previously closed at C$7.58.

Other analysts have also recently issued research reports about the company. Scotiabank increased their target price on Spartan Delta from C$7.50 to C$8.00 in a report on Thursday, October 9th. TD Securities upped their price target on Spartan Delta from C$7.50 to C$9.50 and gave the company a “buy” rating in a research report on Tuesday. Ventum Financial raised their price objective on Spartan Delta from C$7.00 to C$9.00 and gave the stock a “buy” rating in a research note on Tuesday. CIBC lifted their price objective on shares of Spartan Delta from C$6.25 to C$9.00 in a report on Wednesday, October 15th. Finally, BMO Capital Markets boosted their target price on shares of Spartan Delta from C$7.50 to C$9.00 in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$8.86.

Spartan Delta Stock Up 0.4%

The firm’s 50 day simple moving average is C$7.21 and its 200 day simple moving average is C$5.71. The company has a market cap of C$1.46 billion, a price-to-earnings ratio of 36.45 and a beta of 0.22. 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.