Kelt Exploration (TSE:KEL) Hits New 52-Week High – What’s Next?

Shares of Kelt Exploration Ltd. (TSE:KEL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$10.29 and last traded at C$10.27, with a volume of 41607 shares. The stock had previously closed at C$10.19.

Wall Street Analyst Weigh In

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

Kelt Exploration Stock Up 0.5%

The company has a market cap of C$2.02 billion, a P/E ratio of 45.41 and a beta of -0.29. The company has a current ratio of 0.52, a quick ratio of 0.61 and a debt-to-equity ratio of 12.86. The firm’s 50 day moving average price is C$9.24 and its 200-day moving average price is C$8.32.

Kelt Exploration (TSE:KEL) last posted 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 8.73% and a return on equity of 3.96%. The business had revenue of C$132.64 million during the quarter. As a group, equities research analysts expect that Kelt Exploration Ltd. will post 0.5224359 EPS for the current year.

Insider Buying and Selling

In other news, insider David A. Gillis sold 3,853 shares of the firm’s 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 C$696,777.64. This trade represents a 4.66% decrease in their position. Also, insider Alan G. Franks sold 7,500 shares of Kelt Exploration 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$66,300.00. Following the sale, the insider directly owned 19,158 shares of the company’s stock, valued at approximately C$169,356.72. This trade represents a 28.13% decrease in their ownership of the stock. In the last quarter, insiders sold 211,135 shares of company stock worth $2,047,555. 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.