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

Kelt Exploration Ltd. (TSE:KEL)’s share price 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. The stock had previously closed at C$10.70.

Analyst Upgrades and Downgrades

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

Kelt Exploration Stock Up 1.6%

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 company has a fifty day simple moving average of C$9.92 and a two-hundred day simple moving average of C$9.45. The firm has a market capitalization of C$2.21 billion, a PE ratio of 40.26 and a beta of -0.16.

Kelt Exploration (TSE:KEL) last issued its quarterly earnings data on Thursday, August 6th. The oil and gas exploration company reported C$0.22 earnings per share (EPS) for the quarter. Kelt Exploration had a net margin of 9.66% and a return on equity of 4.95%. The company had revenue of C$193.42 million for the quarter. Analysts forecast that Kelt Exploration Ltd. will post 0.5224359 EPS for the current fiscal year.

Insider Buying and Selling at Kelt Exploration

In other Kelt Exploration news, insider Patrick William George Miles sold 26,683 shares of the business’s 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 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 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.