Kelt Exploration (TSE:KEL) Reaches New 12-Month High After Analyst Upgrade

Kelt Exploration Ltd. (TSE:KEL) reached a new 52-week high during trading on Wednesday after Royal Bank Of Canada raised their price target on the stock from C$11.00 to C$13.00. Royal Bank Of Canada currently has an outperform rating on the stock. Kelt Exploration traded as high as C$11.94 and last traded at C$11.47, with a volume of 1,071,036 shares changing hands. The stock had previously closed at C$11.82.

Other equities analysts have also recently issued research reports about the stock. Scotia set a C$13.00 target price on shares of Kelt Exploration and gave the stock a “sector outperform” rating in a report on Wednesday, June 24th. National Bank Financial set a C$13.25 target price on Kelt Exploration and gave the company an “outperform” rating in a research note on Wednesday, September 30th. Six investment analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$11.96.

Insider Transactions at Kelt Exploration

In other Kelt Exploration news, insider Patrick William George Miles sold 26,683 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$9.52, for a total value of C$254,022.16. Following the sale, the insider directly owned 911,855 shares in the company, valued at approximately C$8,680,859.60. This trade represents a 2.84% decrease in their ownership of the stock. Insiders own 15.87% of the company’s stock.

Kelt Exploration Stock Performance

The firm has a market cap of C$2.35 billion, a price-to-earnings ratio of 42.81 and a beta of -0.10. The stock’s fifty day moving average is C$10.67 and its two-hundred day moving average is C$9.85. The company has a debt-to-equity ratio of 15.69, a quick ratio of 0.61 and a current ratio of 0.64.

Kelt Exploration (TSE:KEL) last posted its earnings results 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 firm had revenue of C$193.42 million during the quarter. On average, analysts expect that Kelt Exploration Ltd. will post 0.52 earnings per share for the current fiscal year.

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.