Kelt Exploration (TSE:KEL) Reaches New 12-Month High – Should You Buy?

Shares of Kelt Exploration Ltd. (TSE:KEL) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$9.09 and last traded at C$8.81, with a volume of 93822 shares trading hands. The stock had previously closed at C$8.68.

Analyst Upgrades and Downgrades

Several research firms recently commented on KEL. TD Securities set a C$9.50 price objective on shares of Kelt Exploration and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Canadian Imperial Bank of Commerce boosted their price target on Kelt Exploration from C$10.50 to C$11.00 in a report on Friday, November 14th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$9.63.

Kelt Exploration Trading Up 1.0%

The company’s 50 day simple moving average is C$7.90 and its two-hundred day simple moving average is C$7.32. The company has a market cap of C$1.75 billion, a PE ratio of 30.24 and a beta of -0.36. The company has a debt-to-equity ratio of 4.53, a current ratio of 0.50 and a quick ratio of 0.61.

Insider Transactions at Kelt Exploration

In other news, insider Sadiq Lalani sold 50,000 shares of the business’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of C$8.05, for a total transaction of C$402,500.00. Following the completion of the transaction, the insider directly owned 1,845,000 shares of the company’s stock, valued at approximately C$14,852,250. The trade was a 2.64% decrease in their ownership of the stock. Also, insider Bruce Douglas Gigg sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$8.09, for a total transaction of C$647,200.00. Following the completion of the sale, the insider directly owned 224,574 shares in the company, valued at approximately C$1,816,803.66. This trade represents a 26.27% decrease in their position. Over the last 90 days, insiders have sold 224,500 shares of company stock valued at $1,808,529. 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.