Kelt Exploration (TSE:KEL) Hits New 52-Week High – Should You Buy?

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

Wall Street Analysts Forecast Growth

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

Kelt Exploration Price Performance

The company has a debt-to-equity ratio of 15.69, a current ratio of 0.64 and a quick ratio of 0.61. The stock’s fifty day moving average is C$9.43 and its 200-day moving average is C$9.21. The stock has a market cap of C$2.13 billion, a PE ratio of 38.89 and a beta of -0.24.

Kelt Exploration (TSE:KEL) last issued its earnings results on Thursday, August 6th. The oil and gas exploration company reported C$0.22 EPS for the quarter. The company 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 analysts anticipate that Kelt Exploration Ltd. will post 0.5224359 EPS for the current year.

Insider Activity

In other Kelt Exploration news, Director David John Wilson acquired 100,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of C$9.06 per share, for a total transaction of C$906,000.00. Following the completion of the transaction, the director owned 21,183,040 shares of the company’s stock, valued at approximately C$191,918,342.40. The trade was a 0.47% increase in their position. Also, insider Alan G. Franks sold 85,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$10.17, for a total value of C$864,450.00. Following the sale, the insider directly owned 19,158 shares of the company’s stock, valued at approximately C$194,836.86. This trade represents a 81.61% decrease in their position. Corporate insiders own 15.87% of the company’s stock.

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.