Spartan Delta (TSE:SDE) Hits New 12-Month High After Analyst Upgrade

Spartan Delta Corp. (TSE:SDE) shares reached a new 52-week high on Tuesday after Desjardins raised their price target on the stock from C$9.50 to C$11.00. Desjardins currently has a hold rating on the stock. Spartan Delta traded as high as C$10.81 and last traded at C$10.48, with a volume of 848667 shares traded. The stock had previously closed at C$10.23.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets upped their price target on Spartan Delta from C$9.00 to C$11.00 and gave the stock an “outperform” rating in a report on Wednesday, February 11th. TD Securities upped their target price 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. National Bank Financial lifted their price target 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. Scotiabank upped their price objective 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. Finally, Ventum Financial upped their target price on shares of Spartan Delta from C$10.50 to C$12.25 and gave the company a “buy” rating in a report on Tuesday. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$10.75.

Spartan Delta Stock Down 3.1%

The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 28.49. The stock has a market capitalization of C$2.03 billion, a PE ratio of 50.75 and a beta of 0.45. The firm’s fifty day moving average is C$8.55 and its 200-day moving average is C$6.87.

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.