Spartan Delta (TSE:SDE) Shares Up 1.7% – Still a Buy?

Spartan Delta Corp. (TSE:SDE) shares shot up 1.7% during mid-day trading on Monday . The stock traded as high as C$7.30 and last traded at C$7.17. 456,437 shares were traded during trading, an increase of 12% from the average session volume of 407,545 shares. The stock had previously closed at C$7.05.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SDE. CIBC increased their price objective on Spartan Delta from C$6.25 to C$9.00 in a research note on Wednesday, October 15th. TD Securities upped their price target on shares of Spartan Delta from C$7.00 to C$7.50 and gave the company a “buy” rating in a report on Wednesday, November 5th. Scotiabank increased their price target on shares of Spartan Delta from C$7.50 to C$8.00 in a research report on Thursday, October 9th. Finally, Desjardins boosted their price objective on shares of Spartan Delta from C$7.00 to C$8.00 and gave the company a “hold” rating in a research report on Monday, November 24th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Spartan Delta currently has a consensus rating of “Buy” and an average target price of C$7.55.

Spartan Delta Trading Up 1.7%

The firm has a market cap of C$1.44 billion, a P/E ratio of 35.85 and a beta of 0.17. The firm’s fifty day moving average is C$6.80 and its two-hundred day moving average is C$5.42. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 28.49.

Spartan Delta Company Profile

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.