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

Spartan Delta Corp. (TSE:SDE)’s share price reached a new 52-week high 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.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SDE. Ventum Financial raised their target price on shares of Spartan Delta from C$9.00 to C$10.50 and gave the company a “buy” rating in a research note on Wednesday, January 28th. BMO Capital Markets raised their price objective on shares of Spartan Delta from C$7.50 to C$9.00 in a report on Tuesday, January 6th. Desjardins boosted their price target on Spartan Delta from C$8.00 to C$8.50 and gave the company a “hold” rating in a research note on Tuesday, January 6th. Canadian Imperial Bank of Commerce upped their price objective on shares of Spartan Delta from C$6.25 to C$9.00 in a research note on Wednesday, October 15th. Finally, Scotiabank lifted their price target on Spartan Delta from C$8.00 to C$11.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Spartan Delta has a consensus rating of “Buy” and an average target price of C$9.50.

Spartan Delta Trading Down 1.3%

The firm has a market capitalization of C$1.91 billion, a price-to-earnings ratio of 47.70 and a beta of 0.45. The business has a 50 day moving average of C$7.94 and a 200 day moving average of C$6.45. The company has a debt-to-equity ratio of 28.49, a current ratio of 0.80 and a quick ratio of 0.66.

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.