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

Shares of Kelt Exploration Ltd. (TSE:KEL) reached a new 52-week high during trading on Monday . The company traded as high as C$10.26 and last traded at C$10.25, with a volume of 367590 shares. The stock had previously closed at C$9.95.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on KEL shares. BMO Capital Markets upped their price objective on Kelt Exploration from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a report on Friday, March 13th. TD Securities upped their price objective on Kelt Exploration from C$9.00 to C$11.00 and gave the stock 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 stock a “buy” rating in a report on Tuesday, March 24th. Finally, Royal Bank Of Canada upped their price objective on Kelt Exploration from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$11.10.

Kelt Exploration Trading Down 5.8%

The business’s 50-day moving average is C$8.97 and its two-hundred day moving average is C$8.04. 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 stock has a market capitalization of C$1.92 billion, a PE ratio of 30.90 and a beta of -0.29.

Kelt Exploration (TSE:KEL) last announced 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 12.56% and a return on equity of 5.65%. The firm had revenue of C$132.64 million during the quarter. On average, analysts predict that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Patrick William George Miles sold 72,600 shares of the company’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of C$9.40, for a total transaction of C$682,440.00. Following the completion of the sale, the insider directly owned 911,855 shares of the company’s stock, valued at approximately C$8,571,437. This represents a 7.37% decrease in their position. Also, insider David A. Gillis sold 3,853 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of C$8.84, for a total transaction of C$34,060.52. Following the sale, the insider directly owned 78,821 shares of the company’s stock, valued at approximately C$696,777.64. This trade represents a 4.66% decrease in their ownership of the stock. In the last three months, insiders sold 84,469 shares of company stock valued at $787,362. Company 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.