Spartan Delta (TSE:SDE) Reaches New 1-Year High - Here's What Happened

Key Points

• Spartan Delta hit a new 52-week high, trading as high as C$12.75 and last at C$12.47 (about a 4.2% intraday rise) on volume of 532,724 shares.
• Analysts have recently lifted targets and ratings — six Buy and one Hold — resulting in a consensus rating of Moderate Buy with a consensus price target of C$11.09, which is below the current share price.
• The company has a market cap of C$2.50 billion and trades at a P/E of 35.6, with a debt-to-equity ratio of 29.03 and sub-1 liquidity ratios (current 0.87, quick 0.66), while its 50- and 200-day moving averages (C$10.05 and C$7.74) show recent upward momentum.

Spartan Delta Corp. (TSE:SDE - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$12.75 and last traded at C$12.47, with a volume of 532724 shares. The stock had previously closed at C$11.97.

Analyst Upgrades and Downgrades

SDE has been the topic of several recent research reports. National Bank Financial lifted their price objective on shares of 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. Roth Mkm set a C$13.50 target price on shares of Spartan Delta and gave the stock a "buy" rating in a research report on Wednesday, March 4th. Desjardins raised their price target on shares of Spartan Delta from C$9.50 to C$11.00 and gave the company a "hold" rating in a research note on Tuesday, February 24th. 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 report on Wednesday, January 21st. Finally, Ventum Financial boosted their price objective on Spartan Delta from C$10.50 to C$12.25 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$11.09.

Spartan Delta Stock Up 4.2%

The company has a debt-to-equity ratio of 29.03, a quick ratio of 0.66 and a current ratio of 0.87. The stock has a 50 day moving average price of C$10.05 and a 200 day moving average price of C$7.74. The company has a market cap of C$2.50 billion, a P/E ratio of 35.63 and a beta of 0.31.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.