Kelt Exploration (TSE:KEL) Reaches New 52-Week High – Here’s Why

Kelt Exploration Ltd. (TSE:KEL)’s share price reached a new 52-week high during trading on Wednesday . The stock 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.

Analyst Upgrades and Downgrades

KEL has been the subject of several recent research reports. BMO Capital Markets upped their price target on shares of 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. Royal Bank Of Canada upped their price target on shares of 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. Ventum Financial set a C$12.50 price target on shares of Kelt Exploration and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, TD Securities upped their price target on shares of 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. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$11.10.

Kelt Exploration Stock Down 2.1%

The firm’s 50-day moving average price is C$9.19 and its 200 day moving average price is C$8.27. The firm has a market cap of C$2.02 billion, a P/E ratio of 45.36 and a beta of -0.29. The company has a quick ratio of 0.61, a current ratio of 0.52 and a debt-to-equity ratio of 12.86.

Kelt Exploration (TSE:KEL) last posted its quarterly earnings data on Thursday, March 12th. The oil and gas exploration company reported C$0.09 earnings per share for the quarter. The business had revenue of C$132.64 million during the quarter. Kelt Exploration had a net margin of 8.73% and a return on equity of 3.96%. As a group, research analysts expect that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Patrick William George Miles sold 50,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of C$9.90, for a total value of C$495,000.00. Following the completion of the sale, the insider owned 911,855 shares of the company’s stock, valued at C$9,027,364.50. This represents a 5.20% decrease in their ownership of the stock. Also, insider David A. Gillis sold 3,853 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of C$8.84, for a total transaction of C$34,060.52. Following the completion of the sale, the insider directly owned 78,821 shares of the company’s stock, valued at C$696,777.64. The trade was a 4.66% decrease in their position. Insiders sold 191,135 shares of company stock valued at $1,843,355 over the last 90 days. 15.87% of the stock is currently owned by company 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.