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

Key Points

• New 52-week high: Spartan Delta shares traded as high as C$13.62 (last C$13.56) on volume of ~80,284 shares, up about 2.4% during the session.
• Analyst sentiment: Most analysts rate the stock a Buy (six Buys, one Hold), leaving a consensus rating of "Moderate Buy" and a consensus price target of C$11.09 after several recent target upgrades.
• Key financials: the company has a market capitalization of C$2.72 billion and a P/E of 38.46, but shows tight liquidity (current ratio 0.87, quick ratio 0.66) and a high debt-to-equity ratio of 29.03.

Spartan Delta Corp. (TSE:SDE - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$13.62 and last traded at C$13.56, with a volume of 80284 shares traded. The stock had previously closed at C$13.15.

Analyst Ratings Changes

A number of analysts have recently commented on the company. BMO Capital Markets boosted their price objective on Spartan Delta from C$9.00 to C$11.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 11th. Scotiabank boosted their price objective on 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. National Bank Financial boosted their price objective on 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. Roth Mkm set a C$13.50 target price on Spartan Delta and gave the stock a "buy" rating in a report on Wednesday, March 4th. Finally, TD Securities lifted their target price on Spartan Delta from C$9.50 to C$12.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Spartan Delta currently has a consensus rating of "Moderate Buy" and a consensus price target of C$11.09.

Spartan Delta Stock Up 2.4%

The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 29.03. The firm has a market capitalization of C$2.72 billion, a price-to-earnings ratio of 38.46 and a beta of -0.03. The stock has a fifty day moving average of C$11.56 and a 200-day moving average of C$8.90.

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.

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