Kelt Exploration (TSE:KEL) Sets New 1-Year High – Should You Buy?

Kelt Exploration Ltd. (TSE:KEL)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$9.09 and last traded at C$9.05, with a volume of 210404 shares traded. The stock had previously closed at C$8.79.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KEL. BMO Capital Markets raised their price target on Kelt Exploration from C$9.00 to C$10.00 and gave the company an “outperform” rating in a research report on Friday. TD Securities increased their price objective on Kelt Exploration from C$9.00 to C$11.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank Of Canada raised their price objective on Kelt Exploration from C$8.50 to C$10.00 and gave the company an “outperform” rating in a report on Friday. Finally, Canadian Imperial Bank of Commerce boosted their target price on Kelt Exploration from C$10.50 to C$11.00 in a research report on Friday, November 14th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$10.30.

Kelt Exploration Stock Performance

The company has a market cap of C$1.86 billion, a P/E ratio of 32.24 and a beta of -0.16. The company’s fifty day moving average is C$8.12 and its 200 day moving average is C$7.45. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 16.74.

Kelt Exploration (TSE:KEL) last posted its quarterly earnings results on Thursday, March 12th. The oil and gas exploration company reported C$0.09 earnings per share for the quarter. Kelt Exploration had a net margin of 11.69% and a return on equity of 5.27%. The business had revenue of C$132.64 million during the quarter. As a group, equities analysts predict that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Patrick William George Miles sold 94,300 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$8.03, for a total transaction of C$757,229.00. Following the transaction, the insider directly owned 911,855 shares in the company, valued at C$7,322,195.65. This trade represents a 9.37% decrease in their position. Also, insider Bruce Douglas Gigg sold 80,000 shares of Kelt Exploration stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$8.09, for a total value of C$647,200.00. Following the completion of the transaction, the insider directly owned 224,574 shares in the company, valued at C$1,816,803.66. This trade represents a 26.27% decrease in their ownership of the stock. In the last quarter, insiders sold 224,500 shares of company stock valued at $1,808,529. Insiders own 15.87% of the company’s stock.

About Kelt Exploration

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.