Spartan Delta (TSE:SDE) Reaches New 12-Month High – What’s Next?

Shares of Spartan Delta Corp. (TSE:SDE) hit a new 52-week high during trading on Monday . The stock traded as high as C$8.95 and last traded at C$8.73, with a volume of 106113 shares trading hands. The stock had previously closed at C$8.84.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SDE shares. Desjardins increased their price objective on shares of Spartan Delta from C$8.00 to C$8.50 and gave the company a “hold” rating in a report on Tuesday, January 6th. 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. National Bankshares lifted their price target on shares of Spartan Delta from C$7.50 to C$9.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. CIBC raised their price objective on Spartan Delta from C$6.25 to C$9.00 in a research report on Wednesday, October 15th. Finally, Scotiabank lifted their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned 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 “Buy” and a consensus price target of C$9.50.

Spartan Delta Trading Up 2.0%

The company’s 50 day simple moving average is C$7.65 and its 200-day simple moving average is C$6.17. The firm has a market cap of C$1.83 billion, a P/E ratio of 45.65 and a beta of 0.22. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 28.49.

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.