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

Shares of Kelt Exploration Ltd. (TSE:KEL) hit a new 52-week high during trading on Monday . The company traded as high as C$11.00 and last traded at C$10.95, with a volume of 224368 shares traded. The stock had previously closed at C$10.70.

Wall Street Analysts Forecast Growth

Separately, Scotia set a C$13.00 target price on shares of Kelt Exploration and gave the company a “sector outperform” rating in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$11.42.

Kelt Exploration Stock Up 3.4%

The business’s 50 day moving average price is C$9.99 and its 200-day moving average price is C$9.49. The firm has a market capitalization of C$2.27 billion, a PE ratio of 41.41 and a beta of -0.16. The company has a debt-to-equity ratio of 15.69, a quick ratio of 0.61 and a current ratio of 0.64.

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 for the quarter. Kelt Exploration had a net margin of 9.66% and a return on equity of 4.95%. As a group, equities research analysts forecast that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current year.

Insider Transactions at Kelt Exploration

In other Kelt Exploration news, insider Patrick William George Miles sold 26,683 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$9.52, for a total transaction of C$254,022.16. Following the transaction, the insider directly owned 911,855 shares in the company, valued at C$8,680,859.60. This represents a 2.84% decrease in their ownership of the stock. 15.87% of the stock is currently owned by insiders.

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.