Kelt Exploration (TSE:KEL) Reaches New 52-Week High - Still a Buy?

Key Points

• Kelt Exploration hit a new 52-week high, trading as high as C$10.45 and last changing hands at C$10.39, up from the previous close of C$10.11.
• Analysts remain bullish: Royal Bank of Canada raised its target to C$11.00 with an outperform rating, while Scotia set a C$13.00 target and gave the stock a sector outperform rating. The stock currently carries an average Buy rating and a consensus price target of C$11.42.
• Insider activity was mixed, with Director William Charles Guinan selling 20,000 shares and Director David John Wilson buying 100,000 shares. Insiders still own 15.87% of the company.

Kelt Exploration Ltd. (TSE:KEL - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as C$10.45 and last traded at C$10.39, with a volume of 43315 shares trading hands. The stock had previously closed at C$10.11.

Wall Street Analyst Weigh In

KEL has been the subject of a number of recent research reports. Royal Bank Of Canada raised their target price on shares of Kelt Exploration from C$10.00 to C$11.00 and gave the company an "outperform" rating in a report on Monday, April 13th. 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. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Kelt Exploration currently has an average rating of "Buy" and an average price target of C$11.42.

Kelt Exploration Price Performance

The company has a quick ratio of 0.61, a current ratio of 0.52 and a debt-to-equity ratio of 12.86. The firm's 50 day simple moving average is C$9.45 and its 200 day simple moving average is C$8.89. The company has a market capitalization of C$2.09 billion, a PE ratio of 47.00 and a beta of -0.22.

Insider Activity

In related news, Director William Charles Guinan sold 20,000 shares of Kelt Exploration stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of C$10.21, for a total transaction of C$204,200.00. Following the completion of the transaction, the director directly owned 1,154,459 shares of the company's stock, valued at approximately C$11,787,026.39. The trade was a 1.70% decrease in their position. Also, Director David John Wilson purchased 100,000 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of C$9.06 per share, with a total value of C$906,000.00. Following the completion of the purchase, the director owned 21,183,040 shares in the company, valued at C$191,918,342.40. This trade represents a 0.47% increase in their position. Insiders have sold a total of 211,666 shares of company stock worth $2,124,643 over the last 90 days. 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.

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