Spartan Delta (TSE:SDE) Hits New 52-Week High – Still a Buy?

Spartan Delta Corp. (TSE:SDE) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$10.81 and last traded at C$10.48, with a volume of 848667 shares. The stock had previously closed at C$10.23.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SDE. National Bank Financial upped their price objective on shares of Spartan Delta from C$7.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Scotiabank lifted their price target on Spartan Delta from C$8.00 to C$11.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. BMO Capital Markets increased their price target on Spartan Delta from C$9.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. Ventum Financial boosted their price objective on Spartan Delta from C$9.00 to C$10.50 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Finally, Desjardins upped their target price on 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. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$9.79.

Spartan Delta Price Performance

The company has a debt-to-equity ratio of 28.49, a quick ratio of 0.66 and a current ratio of 0.80. The stock has a market capitalization of C$2.10 billion, a PE ratio of 52.40 and a beta of 0.45. The stock’s 50 day moving average is C$8.41 and its two-hundred day moving average is C$6.81.

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.