Kelt Exploration (TSE:KEL) Hits New 12-Month High – Still a Buy?

Shares of Kelt Exploration Ltd. (TSE:KEL) reached a new 52-week high during trading on Tuesday . The company traded as high as C$8.33 and last traded at C$8.30, with a volume of 253207 shares traded. The stock had previously closed at C$8.13.

Analyst Upgrades and Downgrades

KEL has been the topic of several recent analyst reports. TD Securities set a C$9.50 target price on Kelt Exploration and gave the stock a “buy” rating in a report on Tuesday, January 6th. Canadian Imperial Bank of Commerce increased their price target on Kelt Exploration from C$10.50 to C$11.00 in a research report on Friday, November 14th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Kelt Exploration presently has a consensus rating of “Buy” and a consensus price target of C$9.63.

Kelt Exploration Stock Performance

The stock has a market capitalization of C$1.64 billion, a PE ratio of 28.31 and a beta of -0.36. The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.61 and a current ratio of 0.50. The firm has a 50 day moving average of C$7.65 and a 200-day moving average of C$7.19.

Kelt Exploration (TSE:KEL) last announced its quarterly earnings data on Thursday, November 13th. The oil and gas exploration company reported C($0.04) EPS for the quarter. The company had revenue of C$100.14 million for the quarter. Kelt Exploration had a net margin of 13.12% and a return on equity of 5.40%. Research analysts forecast that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current year.

Insider Buying and Selling

In other Kelt Exploration news, insider Sadiq Lalani sold 50,000 shares of Kelt Exploration stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$8.05, for a total value of C$402,500.00. Following the completion of the sale, the insider directly owned 1,845,000 shares in the company, valued at C$14,852,250. The trade was a 2.64% decrease in their ownership of the stock. Corporate 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.