Spartan Delta (TSE:SDE) Sets New 52-Week High – Here’s Why

Spartan Delta Corp. (TSE:SDE)’s stock price hit 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 traded. The stock had previously closed at C$11.34.

Analysts Set New Price Targets

SDE has been the subject of a number of research analyst reports. Desjardins upped their target price on shares of Spartan Delta from C$9.50 to C$11.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. TD Securities boosted their price target on Spartan Delta from C$9.50 to C$12.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. National Bank Financial upped their price objective on Spartan Delta from C$7.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Scotiabank lifted their target price on Spartan Delta from C$8.00 to C$11.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Finally, Ventum Financial boosted their target price on Spartan Delta from C$10.50 to C$12.25 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$11.09.

Spartan Delta Price Performance

The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 29.03. The business has a fifty day moving average of C$9.35 and a 200 day moving average of C$7.31. The firm has a market cap of C$2.28 billion, a P/E ratio of 32.46 and a beta of 0.31.

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.