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

Spartan Delta Corp. (TSE:SDE)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$8.08 and last traded at C$8.01, with a volume of 234671 shares. The stock had previously closed at C$7.84.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. National Bankshares upped their price target on shares of Spartan Delta from C$7.50 to C$9.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Desjardins upped 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 research note on Tuesday, January 6th. TD Securities raised 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 report on Tuesday, January 6th. Ventum Financial boosted their price objective on shares of Spartan Delta from C$7.00 to C$9.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, BMO Capital Markets upped their price objective on Spartan Delta from C$7.50 to C$9.00 in a research report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$8.86.

Spartan Delta Price Performance

The stock has a market capitalization of C$1.61 billion, a PE ratio of 40.05 and a beta of 0.22. The firm’s fifty day moving average price is C$7.28 and its two-hundred day moving average price is C$5.80. 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.