Kelt Exploration (TSE:KEL) Hits New 1-Year High – Time to Buy?

Kelt Exploration Ltd. (TSE:KEL)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$7.66 and last traded at C$7.60, with a volume of 391086 shares traded. The stock had previously closed at C$7.33.

Wall Street Analysts Forecast Growth

KEL has been the subject of several research reports. CIBC decreased their price target on shares of Kelt Exploration from C$11.50 to C$10.75 in a research note on Thursday, April 10th. Raymond James set a C$9.50 price objective on shares of Kelt Exploration and gave the company an “outperform” rating in a research note on Tuesday, April 8th.

Kelt Exploration Stock Performance

The firm has a market capitalization of C$1.50 billion, a P/E ratio of 26.87 and a beta of 1.93. The company has a current ratio of 0.50, a quick ratio of 0.61 and a debt-to-equity ratio of 4.53. The business’s 50 day simple moving average is C$6.24 and its two-hundred day simple moving average is C$6.52.

Insider Buying and Selling at Kelt Exploration

In other news, Senior Officer Douglas Jeffery Errico purchased 5,500 shares of the stock in a transaction on Wednesday, March 26th. The shares were acquired at an average price of C$6.78 per share, with a total value of C$37,290.00. Also, Senior Officer Douglas Owen Macarthur sold 45,000 shares of Kelt Exploration stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of C$6.50, for a total transaction of C$292,500.00. In the last ninety days, insiders sold 117,630 shares of company stock worth $780,793. 15.87% of the stock is owned by corporate insiders.

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.