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

Shares of Kelt Exploration Ltd. (TSE:KEL) hit a new 52-week high during trading on Monday . The company traded as high as C$10.45 and last traded at C$10.45, with a volume of 407499 shares changing hands. The stock had previously closed at C$10.17.

Analysts Set New Price Targets

Separately, Scotia set a C$13.00 target price on Kelt Exploration and gave the stock a “sector outperform” rating in a research note on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$11.42.

Kelt Exploration Trading Down 1.2%

The company has a debt-to-equity ratio of 15.69, a quick ratio of 0.61 and a current ratio of 0.64. The stock has a fifty day moving average of C$9.47 and a 200-day moving average of C$9.24. The company has a market cap of C$2.11 billion, a PE ratio of 38.41 and a beta of -0.24.

Kelt Exploration (TSE:KEL) last posted its quarterly earnings results 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 for the quarter. Kelt Exploration had a net margin of 9.66% and a return on equity of 4.95%. Sell-side analysts anticipate that Kelt Exploration Ltd. will post 0.5224359 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Patrick William George Miles sold 26,683 shares of Kelt Exploration stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of C$9.52, for a total transaction of C$254,022.16. Following the completion of the sale, the insider owned 911,855 shares of the company’s stock, valued at approximately C$8,680,859.60. The trade was a 2.84% decrease in their ownership of the stock. Also, insider Alan G. Franks sold 85,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of C$10.17, for a total value of C$864,450.00. Following the completion of the sale, the insider owned 19,158 shares of the company’s stock, valued at C$194,836.86. The trade was a 81.61% decrease in their position. 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.