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

Kelt Exploration Ltd. (TSE:KEL) hit a new 52-week high on Tuesday . The company 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 recently issued reports on KEL. TD Securities increased their target price on Kelt Exploration from C$9.00 to C$11.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Royal Bank Of Canada lifted their target price on Kelt Exploration from C$8.50 to C$10.00 and gave the company an “outperform” rating in a research report on Friday, March 13th. Finally, BMO Capital Markets boosted their price target on shares of Kelt Exploration from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a research note on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$10.30.

Kelt Exploration Trading Up 0.8%

The company’s 50 day simple moving average is C$8.26 and its 200 day simple moving average is C$7.52. The firm has a market cap of C$1.85 billion, a price-to-earnings ratio of 29.97 and a beta of -0.16. The company has a debt-to-equity ratio of 15.87, a current ratio of 1.00 and a quick ratio of 0.61.

Kelt Exploration (TSE:KEL) last posted its quarterly earnings data on Thursday, March 12th. The oil and gas exploration company reported C$0.09 earnings per share 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%. As a group, research analysts expect that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 value of C$757,229.00. Following the transaction, the insider owned 911,855 shares of the company’s stock, valued at C$7,322,195.65. This represents a 9.37% decrease in their ownership of the stock. Also, insider Sadiq Lalani sold 50,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of C$8.05, for a total value of C$402,500.00. Following the sale, the insider directly owned 1,845,000 shares in the company, valued at C$14,852,250. This trade represents a 2.64% decrease in their position. Insiders have sold a total of 224,500 shares of company stock worth $1,808,529 in the last quarter. 15.87% of the stock is 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.