Spartan Delta (TSE:SDE) Reaches New 12-Month High – Should You Buy?

Spartan Delta Corp. (TSE:SDE) reached a new 52-week high during trading on Friday . The company traded as high as C$11.59 and last traded at C$11.42, with a volume of 711873 shares changing hands. The stock had previously closed at C$11.34.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SDE shares. Scotiabank boosted their target price on Spartan Delta from C$8.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. National Bank Financial lifted their price objective on shares of Spartan Delta from C$7.50 to C$9.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Roth Mkm set a C$13.50 price objective on shares of Spartan Delta and gave the company a “buy” rating in a report on Wednesday, March 4th. TD Securities upped their target price on shares of Spartan Delta from C$9.50 to C$12.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Finally, Ventum Financial increased 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 report on Tuesday, February 24th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$11.09.

Spartan Delta Stock Performance

The company has a debt-to-equity ratio of 29.03, a current ratio of 0.87 and a quick ratio of 0.66. The company has a market cap of C$2.28 billion, a price-to-earnings ratio of 32.46 and a beta of 0.31. The stock has a 50-day moving average price of C$9.35 and a 200 day moving average price of C$7.31.

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.