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

Key Points

• Kelt Exploration hit a new 52-week high (trading as high as C$10.26) amid multiple analyst upgrades — consensus rating is Buy with an average price target of C$11.10.
• The company has a market cap of C$2.05 billion and a P/E of 32.94; it reported C$0.09 EPS and C$132.64M revenue for the last quarter, with analysts forecasting ~C$0.52 EPS for the current fiscal year.
• Insiders have been net sellers recently (84,469 shares sold in the past three months, about C$787K), though insiders still own 15.87% of the stock.

Kelt Exploration Ltd. (TSE:KEL - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$10.26 and last traded at C$10.25, with a volume of 367590 shares trading hands. The stock had previously closed at C$9.95.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. TD Securities raised their price target on Kelt Exploration from C$9.00 to C$11.00 and gave the stock a "buy" rating in a research note on Friday, March 13th. BMO Capital Markets boosted their price objective on shares of Kelt Exploration from C$9.00 to C$10.00 and gave the company an "outperform" rating in a research report on Friday, March 13th. Ventum Financial set a C$12.50 target price on shares of Kelt Exploration and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Finally, Royal Bank Of Canada lifted 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 research note on Monday, April 13th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$11.10.

Kelt Exploration Price Performance

The stock has a market cap of C$2.05 billion, a P/E ratio of 32.94 and a beta of -0.28. The company has a debt-to-equity ratio of 15.87, a quick ratio of 0.61 and a current ratio of 1.00. The firm has a 50-day moving average price of C$8.92 and a 200-day moving average price of C$7.99.

Kelt Exploration (TSE:KEL - Get Free Report) last released 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 return on equity of 5.65% and a net margin of 12.56%. On average, analysts forecast that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current fiscal year.

Insider Transactions at Kelt Exploration

In related news, insider David A. Gillis sold 3,853 shares of Kelt Exploration stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of C$8.84, for a total transaction of C$34,060.52. Following the completion of the transaction, the insider directly owned 78,821 shares of the company's stock, valued at C$696,777.64. This trade represents a 4.66% decrease in their position. Also, insider Patrick William George Miles sold 72,600 shares of the business's stock in a transaction dated Friday, March 27th. The stock was sold at an average price of C$9.40, for a total transaction of C$682,440.00. Following the sale, the insider directly owned 911,855 shares in the company, valued at C$8,571,437. The trade was a 7.37% decrease in their position. Insiders have sold 84,469 shares of company stock valued at $787,362 in the last three months. 15.87% of the stock is currently 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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