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

Key Points

• Kelt Exploration shares reached a new 52-week high of C$10.45, up 3.2% from the prior close, with 407,499 shares traded.
• Analysts remain bullish, with five Buy ratings, an average price target of C$11.42, and Scotia assigning a C$13.00 target with a “sector outperform” rating.
• The company reported quarterly EPS of C$0.22 on revenue of C$193.42 million, while insiders recently sold shares; insiders still own 15.87% of the stock.

Shares of Kelt Exploration Ltd. (TSE:KEL - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as C$10.45 and last traded at C$10.45, with a volume of 407499 shares traded. The stock had previously closed at C$10.17.

Wall Street Analysts Forecast Growth

Separately, Scotia set a C$13.00 price target on shares of Kelt Exploration and gave the company a "sector outperform" rating in a research note on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of C$11.42.

Kelt Exploration Trading Up 3.2%

The company has a fifty day moving average of C$9.43 and a 200-day moving average of C$9.21. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 15.69. The company has a market capitalization of C$2.13 billion, a price-to-earnings ratio of 38.89 and a beta of -0.24.

Kelt Exploration (TSE:KEL - Get Free Report) last announced its earnings results on Thursday, August 6th. The oil and gas exploration company reported C$0.22 EPS for the quarter. The business had revenue of C$193.42 million during the quarter. Kelt Exploration had a return on equity of 4.95% and a net margin of 9.66%. As a group, equities research analysts anticipate that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Alan G. Franks sold 85,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$10.17, for a total value of C$864,450.00. Following the completion of the transaction, the insider directly owned 19,158 shares of the company's stock, valued at approximately C$194,836.86. This represents a 81.61% decrease in their position. Also, insider Patrick William George Miles sold 26,683 shares of the firm's 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 transaction, the insider owned 911,855 shares in the company, valued at C$8,680,859.60. The trade was a 2.84% decrease in their position. 15.87% of the stock is owned by company insiders.

About Kelt Exploration

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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