Spartan Delta (TSE:SDE) Sets New 52-Week High – Should You Buy?

Spartan Delta Corp. (TSE:SDE)’s stock price hit a new 52-week high during mid-day 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 trading hands. The stock had previously closed at C$9.32.

Analysts Set New Price Targets

SDE has been the topic of a number of recent analyst reports. Scotiabank raised their target price on shares of Spartan Delta from C$8.00 to C$11.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. TD Securities raised their price objective 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. BMO Capital Markets lifted their target price on shares of Spartan Delta from C$7.50 to C$9.00 in a research note on Tuesday, January 6th. Ventum Financial increased their price target 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. Finally, National Bankshares raised their price target on Spartan Delta from C$7.50 to C$9.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Spartan Delta currently has an average rating of “Buy” and an average target price of C$9.50.

Spartan Delta Price Performance

The firm has a market cap of C$1.90 billion, a P/E ratio of 47.40 and a beta of 0.45. The firm’s fifty day simple moving average is C$7.78 and its 200 day simple moving average is C$6.31. 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.