BMO Capital Markets Forecasts Strong Price Appreciation for Spartan Delta (TSE:SDE) Stock

Spartan Delta (TSE:SDE) had its price objective increased by equities research analysts at BMO Capital Markets from C$9.00 to C$11.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 12.13% from the company’s previous close.

SDE has been the topic of a number of other reports. TD Securities raised their target price on Spartan Delta from C$7.50 to C$9.50 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Ventum Financial raised their price objective on Spartan Delta from C$9.00 to C$10.50 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. National Bankshares boosted their price objective on Spartan Delta from C$7.50 to C$9.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Desjardins increased their target price on shares of Spartan Delta from C$8.00 to C$8.50 and gave the stock a “hold” rating in a report on Tuesday, January 6th. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of Spartan Delta from C$6.25 to C$9.00 in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$9.79.

Spartan Delta Stock Performance

TSE SDE traded up C$0.34 during trading hours on Wednesday, hitting C$9.81. 249,235 shares of the company’s stock traded hands, compared to its average volume of 699,857. The company has a current ratio of 0.80, a quick ratio of 0.66 and a debt-to-equity ratio of 28.49. Spartan Delta has a 52 week low of C$2.39 and a 52 week high of C$9.93. The firm has a market capitalization of C$1.97 billion, a P/E ratio of 49.05 and a beta of 0.45. The business’s fifty day moving average price is C$7.98 and its two-hundred day moving average price is C$6.48.

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.