Spartan Delta (TSE:SDE) Hits New 12-Month High – Here’s Why

Spartan Delta Corp. (TSE:SDE) shares hit a new 52-week high on Wednesday . The company traded as high as C$7.44 and last traded at C$7.45, with a volume of 426515 shares changing hands. The stock had previously closed at C$7.25.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SDE shares. Desjardins lowered shares of Spartan Delta from a “buy” rating to a “hold” rating and set a C$5.75 price objective on the stock. in a report on Tuesday, August 26th. TD Securities boosted their price target on Spartan Delta from C$7.00 to C$7.50 and gave the company a “buy” rating in a report on Wednesday, November 5th. CIBC increased their price objective on Spartan Delta from C$6.25 to C$9.00 in a report on Wednesday, October 15th. Finally, Scotiabank lifted their target price on Spartan Delta from C$7.50 to C$8.00 in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Spartan Delta has an average rating of “Buy” and a consensus price target of C$6.64.

Spartan Delta Stock Performance

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’s fifty day moving average is C$5.82 and its two-hundred day moving average is C$4.67. The firm has a market capitalization of C$1.49 billion, a price-to-earnings ratio of 37.25 and a beta of 0.29.

Spartan Delta Company Profile

Spartan Delta Corp is an oil and gas exploration and production company. It is engaged in the exploration, development, and production of petroleum and natural gas properties in Alberta. The company operates and focuses its activities on Peace River Arch and Central Alberta.