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

Shares of Kelt Exploration Ltd. (TSE:KEL) reached a new 52-week high during mid-day trading on Thursday. The company traded as high as C$11.39 and last traded at C$11.33, with a volume of 1,162,714 shares trading hands. The stock had previously closed at C$10.97.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. National Bank Financial set a C$13.25 price target on Kelt Exploration and gave the company an “outperform” rating in a research report on Wednesday, September 30th. Scotia set a C$13.00 price objective on Kelt Exploration and gave the stock a “sector outperform” rating in a research report on Wednesday, June 24th. Six investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$11.68.

Kelt Exploration Stock Up 2.7%

The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 15.69. The company has a market capitalization of C$2.29 billion, a P/E ratio of 41.74 and a beta of -0.10. The firm has a 50-day moving average price of C$10.43 and a two-hundred day moving average price of C$9.74.

Kelt Exploration (TSE:KEL) last announced 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 business had revenue of C$193.42 million for the quarter. Equities research analysts anticipate that Kelt Exploration Ltd. will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

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