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

Kelt Exploration Ltd. (TSE:KEL) shares reached a new 52-week high on Tuesday . The stock traded as high as C$9.42 and last traded at C$9.34, with a volume of 96977 shares trading hands. The stock had previously closed at C$9.26.

Analysts Set New Price Targets

Several research firms have commented on KEL. TD Securities upped their price target on Kelt Exploration from C$9.00 to C$11.00 and gave the company a “buy” rating in a report on Friday. Royal Bank Of Canada lifted their price target on shares of Kelt Exploration from C$8.50 to C$10.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, BMO Capital Markets upped their price target on Kelt Exploration from C$9.00 to C$10.00 and gave the company an “outperform” rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Kelt Exploration presently has an average rating of “Buy” and an average target price of C$10.30.

Kelt Exploration Stock Up 0.1%

The company has a debt-to-equity ratio of 15.87, a current ratio of 1.00 and a quick ratio of 0.61. The firm’s 50 day moving average is C$8.18 and its two-hundred day moving average is C$7.49. The firm has a market capitalization of C$1.83 billion, a P/E ratio of 31.97 and a beta of -0.16.

Kelt Exploration (TSE:KEL) last announced its quarterly earnings data on Thursday, March 12th. The oil and gas exploration company reported C$0.09 EPS for the quarter. Kelt Exploration had a net margin of 12.56% and a return on equity of 5.65%. The company had revenue of C$132.64 million during the quarter. Research analysts predict that Kelt Exploration Ltd. will post 0.5224359 EPS for the current year.

Insider Buying and Selling at Kelt Exploration

In other Kelt Exploration news, insider Patrick William George Miles sold 94,300 shares of the stock in a transaction 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 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 the company’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of C$8.09, for a total transaction of C$647,200.00. Following the completion of the transaction, the insider 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. Insiders have sold a total of 224,500 shares of company stock valued at $1,808,529 in the last three months. 15.87% of the stock is currently owned by company insiders.

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.