Kelt Exploration (TSE:KEL) Shares Up 8.3% – Should You Buy?

Kelt Exploration Ltd. (TSE:KEL) shot up 8.3% on Monday . The company traded as high as C$9.34 and last traded at C$9.24. 327,880 shares were traded during trading, a decline of 39% from the average session volume of 537,468 shares. The stock had previously closed at C$8.53.

Analyst Ratings Changes

A number of research firms have weighed in on KEL. BMO Capital Markets lifted their price objective on Kelt Exploration from C$9.00 to C$10.00 and gave the company an “outperform” rating in a report on Friday, March 13th. TD Securities lifted their price objective on Kelt Exploration from C$9.00 to C$11.00 and gave the company a “buy” rating in a report on Friday, March 13th. Ventum Financial set a C$12.50 price objective on Kelt Exploration and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, Royal Bank Of Canada lifted their price objective on Kelt Exploration from C$10.00 to C$11.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Kelt Exploration has an average rating of “Buy” and a consensus price target of C$11.10.

Kelt Exploration Stock Up 11.3%

The firm has a market capitalization of C$1.90 billion, a price-to-earnings ratio of 30.61 and a beta of -0.28. The company has a current ratio of 1.00, a quick ratio of 0.61 and a debt-to-equity ratio of 15.87. The firm has a fifty day moving average price of C$8.80 and a 200 day moving average price of C$7.90.

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

Insiders Place Their Bets

In other news, insider Bruce Douglas Gigg sold 80,000 shares of the business’s 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 transaction, the insider directly owned 224,574 shares of the company’s stock, valued at C$1,816,803.66. The trade was a 26.27% decrease in their position. Also, insider Patrick William George Miles sold 94,300 shares of the business’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 value of C$757,229.00. Following the completion of the transaction, the insider directly owned 911,855 shares in the company, valued at C$7,322,195.65. The trade was a 9.37% decrease in their ownership of the stock. Insiders sold 308,969 shares of company stock worth $2,595,891 over the last ninety days. 15.87% of the stock is owned by 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.