Kelt Exploration (TSE:KEL) Sets New 12-Month High – Here’s Why

Kelt Exploration Ltd. (TSE:KEL) shares hit a new 52-week high on Friday. The company traded as high as C$11.36 and last traded at C$11.32, with a volume of 171159 shares. The stock had previously closed at C$10.99.

Analyst Ratings Changes

KEL has been the topic of several recent research reports. National Bank Financial set a C$13.25 target price on shares of Kelt Exploration and gave the company an “outperform” rating in a report on Wednesday, September 30th. Scotia set a C$13.00 price target on shares of Kelt Exploration and gave the company a “sector outperform” rating in a research report on Wednesday, June 24th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$11.68.

Kelt Exploration Stock Performance

The firm has a market cap of C$2.30 billion, a P/E ratio of 41.93 and a beta of -0.10. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 15.69. The business’s fifty day simple moving average is C$10.32 and its 200-day simple moving average is C$9.69.

Kelt Exploration (TSE:KEL) last issued its quarterly earnings data on Thursday, August 6th. The oil and gas exploration company reported C$0.22 EPS for the quarter. The firm had revenue of C$193.42 million during the quarter. Kelt Exploration had a net margin of 9.66% and a return on equity of 4.95%. As a group, sell-side analysts expect that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current year.

Insiders Place Their Bets

In other Kelt Exploration news, insider Patrick William George Miles sold 26,683 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of C$9.52, for a total value of C$254,022.16. Following the completion of the sale, the insider owned 911,855 shares in the company, valued at approximately C$8,680,859.60. This trade represents a 2.84% decrease in their position. Company insiders own 15.87% of the company’s stock.

Kelt Exploration Company Profile

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.