Spartan Delta (TSE:SDE) Reaches New 1-Year High - Time to Buy?

Key Points

• Spartan Delta Corp. has reached a new 52-week high, trading at C$5.88, with a volume of 349,708 shares exchanged.
• Analysts have mixed ratings for the stock, with CIBC increasing its price target to C$9.00 and Desjardins downgrading it to a hold with a target of C$5.75.
• The company specializes in oil and gas exploration and production, primarily focused on areas in Alberta.

Spartan Delta Corp. (TSE:SDE - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as C$5.88 and last traded at C$5.88, with a volume of 349708 shares changing hands. The stock had previously closed at C$5.43.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SDE shares. CIBC raised their price objective on Spartan Delta from C$6.25 to C$9.00 in a research report on Wednesday, October 15th. Scotiabank lifted their target price on Spartan Delta from C$7.50 to C$8.00 in a report on Thursday, October 9th. Finally, Desjardins cut Spartan Delta from a "buy" rating to a "hold" rating and set a C$5.75 target price on the stock. in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Spartan Delta has an average rating of "Buy" and an average target price of C$6.50.

Spartan Delta Trading Up 6.8%

The company has a market cap of C$1.16 billion, a PE ratio of 30.53 and a beta of 0.50. The company has a debt-to-equity ratio of 28.49, a current ratio of 0.80 and a quick ratio of 0.66. The company has a 50-day moving average of C$5.18 and a 200 day moving average of C$4.14.

About Spartan Delta

Spartan Delta Corp is an oil and gas exploration and production company. It is engaged in the exploration, development, and production of petroleum and natural gas properties in Alberta. The company operates and focuses its activities on Peace River Arch and Central Alberta.

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