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

Spartan Delta Corp. (TSE:SDE)’s share price reached a new 52-week high on Tuesday . The stock traded as high as C$13.55 and last traded at C$12.96, with a volume of 667613 shares changing hands. The stock had previously closed at C$13.19.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Roth Mkm set a C$13.50 target price on shares of Spartan Delta and gave the stock a “buy” rating in a research report on Wednesday, March 4th. BMO Capital Markets increased their target price on Spartan Delta from C$9.00 to C$11.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. National Bank Financial raised their price target on Spartan Delta from C$7.50 to C$9.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Desjardins lifted their price target on 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. Finally, 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 report on Wednesday, January 21st. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$11.09.

Spartan Delta Price Performance

The stock has a market capitalization of C$2.43 billion, a PE ratio of 34.60 and a beta of 0.31. 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 firm’s 50 day simple moving average is C$10.59 and its 200 day simple moving average is C$8.05.

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.