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

Kelt Exploration Ltd. (TSE:KEL) reached a new 52-week high during trading on Tuesday . The company traded as high as C$9.78 and last traded at C$9.68, with a volume of 1710606 shares traded. The stock had previously closed at C$8.53.

Wall Street Analysts Forecast Growth

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

Kelt Exploration Price Performance

The stock has a market capitalization of C$2.02 billion, a P/E ratio of 32.42 and a beta of -0.28. The company has a debt-to-equity ratio of 15.87, a quick ratio of 0.61 and a current ratio of 1.00. The stock has a 50-day simple moving average of C$8.89 and a 200 day simple moving average of C$7.96.

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. The firm 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%. On average, equities analysts forecast that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current fiscal year.

Insider Buying and Selling at Kelt Exploration

In other Kelt Exploration news, insider David A. Gillis sold 3,853 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of C$8.84, for a total value of C$34,060.52. Following the transaction, the insider directly owned 78,821 shares in the company, valued at approximately C$696,777.64. This trade represents a 4.66% decrease in their position. Also, insider Alan G. Franks sold 7,500 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of C$8.84, for a total value of C$66,300.00. Following the completion of the transaction, the insider owned 19,158 shares in the company, valued at C$169,356.72. The trade was a 28.13% decrease in their ownership of the stock. In the last ninety days, insiders have sold 84,469 shares of company stock worth $787,362. 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.