Kelt Exploration (TSE:KEL) Hits New 12-Month High – Should You Buy?

Kelt Exploration Ltd. (TSE:KEL)’s share price reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as C$11.39 and last traded at C$11.33, with a volume of 1,162,714 shares traded. The stock had previously closed at C$10.97.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on KEL shares. National Bank Financial set a C$13.25 price target on shares of Kelt Exploration and gave the company an “outperform” rating in a research report on Wednesday, September 30th. Scotia set a C$13.00 price objective on shares of Kelt Exploration and gave the stock a “sector outperform” rating in a research note on Wednesday, June 24th. Six research analysts have rated the stock with a Buy rating. According to MarketBeat.com, Kelt Exploration presently has an average rating of “Buy” and an average price target of C$11.68.

Kelt Exploration Trading Up 0.7%

The company has a market capitalization of C$2.33 billion, a P/E ratio of 42.44 and a beta of -0.10. The company has a debt-to-equity ratio of 15.69, a current ratio of 0.64 and a quick ratio of 0.61. The business’s 50-day moving average price is C$10.51 and its two-hundred day moving average price is C$9.77.

Kelt Exploration (TSE:KEL) last released its quarterly earnings data on Thursday, August 6th. The oil and gas exploration company reported C$0.22 EPS for the quarter. The business had revenue of C$193.42 million during the quarter. Kelt Exploration had a net margin of 9.66% and a return on equity of 4.95%. As a group, analysts forecast that Kelt Exploration Ltd. will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kelt Exploration news, insider Patrick William George Miles sold 26,683 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of C$9.52, for a total value of C$254,022.16. Following the completion of the transaction, the insider directly owned 911,855 shares of the company’s stock, valued at approximately C$8,680,859.60. The trade was a 2.84% decrease in their ownership of the stock. Corporate insiders own 15.87% of the company’s stock.

Kelt Exploration Company Profile

Kelt Exploration Ltd is an oil and gas company that focuses on the exploration, development, and production of crude oil and natural gas in Canada. Assets for production are acquired through the purchase of other corporate entities or through a full-cycle exploration program. Kelt traditionally focuses its exploration activities on areas with multizone hydrocarbon potential in Canada. The company owns pipeline infrastructure in some of its core regions to help move its products to domestic markets.