Spartan Delta (TSE:SDE) Reaches New 1-Year High – Time to Buy?

Spartan Delta Corp. (TSE:SDE) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$9.79 and last traded at C$9.54, with a volume of 312740 shares changing hands. The stock had previously closed at C$9.67.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SDE. Scotiabank lifted their price objective on Spartan Delta from C$8.00 to C$11.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Ventum Financial lifted their price target on Spartan Delta from C$9.00 to C$10.50 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Canadian Imperial Bank of Commerce boosted their price objective on Spartan Delta from C$6.25 to C$9.00 in a report on Wednesday, October 15th. TD Securities lifted their target price on shares of Spartan Delta from C$7.50 to C$9.50 and gave the company 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$9.00 to C$11.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Spartan Delta currently has a consensus rating of “Buy” and an average price target of C$9.79.

Spartan Delta Trading Down 3.6%

The stock has a fifty day moving average of C$8.03 and a two-hundred day moving average of C$6.51. The company has a market capitalization of C$1.92 billion, a PE ratio of 47.80 and a beta of 0.45. The company has a current ratio of 0.80, a quick ratio of 0.66 and a debt-to-equity ratio of 28.49.

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.