Spartan Delta (TSE:SDE) Reaches New 1-Year High – Here’s Why

Spartan Delta Corp. (TSE:SDE) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$12.16 and last traded at C$12.05, with a volume of 485833 shares changing hands. The stock had previously closed at C$11.96.

Wall Street Analysts Forecast Growth

SDE has been the topic of several recent research reports. Desjardins increased their price objective on Spartan Delta from C$9.50 to C$11.00 and gave the stock a “hold” rating in a research report on Tuesday, February 24th. Scotiabank upped their price target on shares of 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. Roth Mkm set a C$13.50 price target on shares of Spartan Delta and gave the stock a “buy” rating in a research report on Wednesday, March 4th. TD Securities lifted their price objective on shares of Spartan Delta from C$9.50 to C$12.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Finally, National Bank Financial boosted their price objective on shares of Spartan Delta from C$7.50 to C$9.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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 stock has a fifty day simple moving average of C$9.88 and a two-hundred day simple moving average of C$7.60. The firm has a market capitalization of C$2.42 billion, a P/E ratio of 34.51 and a beta of 0.31.

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.