Kelt Exploration (TSE:KEL) Shares Up 8.3% - Should You Buy?

Key Points

• Shares jumped 8.3% intraday to C$9.24 (high C$9.34) on Monday, with 327,880 shares traded—about 39% below average volume.
• Wall Street support is strong: four analysts have Buy/Outperform ratings and the consensus target is C$11.10 after several firms raised price objectives to the C$10–12.50 range.
• Notable insider selling occurred—308,969 shares (~US$2.6M) sold in the last quarter—though insiders still own 15.87%; the company has a market cap of C$1.90B and a P/E of 30.61 (latest quarterly EPS C$0.09, revenue C$132.6M).

Kelt Exploration Ltd. (TSE:KEL - Get Free Report)'s share price shot up 8.3% during trading on Monday . The company traded as high as C$9.34 and last traded at C$9.24. 327,880 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 537,468 shares. The stock had previously closed at C$8.53.

Wall Street Analysts Forecast Growth

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

Kelt Exploration Trading Up 11.3%

The firm has a market capitalization of C$1.90 billion, a price-to-earnings ratio of 30.61 and a beta of -0.28. The business has a 50-day moving average of C$8.80 and a two-hundred day moving average of C$7.90. The company has a quick ratio of 0.61, a current ratio of 1.00 and a debt-to-equity ratio of 15.87.

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

Insider Buying and Selling at Kelt Exploration

In related news, insider Bruce Douglas Gigg sold 80,000 shares of Kelt Exploration stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of C$8.09, for a total transaction of C$647,200.00. Following the sale, the insider directly owned 224,574 shares of the company's stock, valued at C$1,816,803.66. This trade represents a 26.27% decrease in their ownership of the stock. Also, insider Alan G. Franks sold 7,500 shares of Kelt Exploration stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of C$8.84, for a total value of C$66,300.00. Following the sale, the insider directly owned 19,158 shares in the company, valued at approximately C$169,356.72. This trade represents a 28.13% decrease in their ownership of the stock. Insiders sold 308,969 shares of company stock valued at $2,595,891 over the last quarter. Company 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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