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

Shares of Kelt Exploration Ltd. (TSE:KEL) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$9.42 and last traded at C$9.34, with a volume of 96977 shares trading hands. The stock had previously closed at C$9.26.

Wall Street Analysts Forecast Growth

KEL has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on Kelt Exploration from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank Of Canada increased their target price on Kelt Exploration from C$8.50 to C$10.00 and gave the stock an “outperform” rating in a report on Friday. Finally, TD Securities boosted their price target on Kelt Exploration from C$9.00 to C$11.00 and gave the company a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$10.30.

Kelt Exploration Stock Performance

The company has a debt-to-equity ratio of 15.87, a current ratio of 1.00 and a quick ratio of 0.61. The stock has a market cap of C$1.83 billion, a P/E ratio of 31.97 and a beta of -0.16. The stock has a 50-day simple moving average of C$8.18 and a 200-day simple moving average of C$7.49.

Kelt Exploration (TSE:KEL) last posted its quarterly earnings results on Thursday, March 12th. The oil and gas exploration company reported C$0.09 earnings per share for the quarter. The company had revenue of C$132.64 million for the quarter. Kelt Exploration had a net margin of 12.56% and a return on equity of 5.65%. Research analysts forecast that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current year.

Insider Activity

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 sale, the insider directly owned 1,845,000 shares in the company, 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 company’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 value of C$647,200.00. Following the completion of the transaction, the insider directly owned 224,574 shares of the company’s stock, valued at C$1,816,803.66. This represents a 26.27% decrease in their position. Over the last three months, insiders have sold 224,500 shares of company stock valued at $1,808,529. 15.87% of the stock is currently owned by corporate 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.