Kelt Exploration (TSE:KEL) Reaches New 52-Week High – Still a Buy?

Shares of Kelt Exploration Ltd. (TSE:KEL) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$10.45 and last traded at C$10.39, with a volume of 43315 shares. The stock had previously closed at C$10.11.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KEL. Royal Bank Of Canada boosted their price objective on Kelt Exploration from C$10.00 to C$11.00 and gave the company an “outperform” rating in a report on Monday, April 13th. 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 equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$11.42.

Kelt Exploration Stock Up 2.3%

The company has a market cap of C$2.09 billion, a P/E ratio of 47.00 and a beta of -0.22. The company has a debt-to-equity ratio of 12.86, a quick ratio of 0.61 and a current ratio of 0.52. The business’s fifty day moving average is C$9.45 and its two-hundred day moving average is C$8.89.

Insider Activity at Kelt Exploration

In other news, Director William Charles Guinan sold 20,000 shares of Kelt Exploration stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of C$10.21, for a total transaction of C$204,200.00. Following the completion of the sale, the director owned 1,154,459 shares of the company’s stock, valued at approximately C$11,787,026.39. The trade was a 1.70% decrease in their ownership of the stock. Also, Director David John Wilson purchased 100,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of C$9.06 per share, with a total value of C$906,000.00. Following the acquisition, the director directly owned 21,183,040 shares of the company’s stock, valued at C$191,918,342.40. This trade represents a 0.47% increase in their position. Over the last ninety days, insiders sold 211,666 shares of company stock worth $2,124,643. 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.