Spartan Delta (TSE:SDE) Sets New 12-Month High – Here’s What Happened

Spartan Delta Corp. (TSE:SDE) reached a new 52-week high during trading on Wednesday . The company traded as high as C$9.41 and last traded at C$9.30, with a volume of 160729 shares changing hands. The stock had previously closed at C$9.32.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SDE shares. TD Securities upped their price target on shares of Spartan Delta from C$7.50 to C$9.50 and gave the company a “buy” rating in a research note on Tuesday, January 6th. BMO Capital Markets boosted their target price on shares of Spartan Delta from C$7.50 to C$9.00 in a report on Tuesday, January 6th. Desjardins increased their price target 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. Scotiabank lifted their price target on Spartan Delta from C$8.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Finally, National Bankshares upped their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$9.50.

Spartan Delta Trading Up 1.7%

The stock has a fifty day moving average of C$7.78 and a 200-day moving average of C$6.31. The company has a market cap of C$1.90 billion, a PE ratio of 47.40 and a beta of 0.45. The company has a debt-to-equity ratio of 28.49, a quick ratio of 0.66 and a current ratio of 0.80.

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.