Kelt Exploration (TSE:KEL) Hits New 12-Month High - Time to Buy?

Key Points

• Kelt Exploration shares reached a new 52-week high of C$11.00 and were last trading at C$10.95, above their 50-day and 200-day moving averages.
• Analyst sentiment remains positive: five analysts rate the stock a Buy, with an average price target of C$11.42; Scotia assigned a C$13.00 target and “sector outperform” rating.
• The company reported quarterly EPS of C$0.22 on revenue of C$193.42 million, while insiders recently sold shares; insider ownership stands at 15.87%.

Shares of Kelt Exploration Ltd. (TSE:KEL - Get Free Report) reached a new 52-week high on Monday . The company traded as high as C$11.00 and last traded at C$10.95, with a volume of 76045 shares trading hands. The stock had previously closed at C$10.91.

Wall Street Analyst Weigh In

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

Kelt Exploration Stock Performance

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 stock has a market capitalization of C$2.18 billion, a price-to-earnings ratio of 39.74 and a beta of -0.24. The stock's 50 day moving average is C$9.58 and its two-hundred day moving average is C$9.30.

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 earnings per share (EPS) for the quarter. The business had revenue of C$193.42 million for the quarter. Kelt Exploration had a return on equity of 4.95% and a net margin of 9.66%. Analysts expect that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Patrick William George Miles sold 26,683 shares of Kelt Exploration stock in a transaction dated 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 owned 911,855 shares of the company's stock, valued at approximately C$8,680,859.60. The trade was a 2.84% decrease in their ownership of the stock. Also, insider Alan G. Franks sold 85,000 shares of the company's stock in a transaction dated 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 sale, the insider owned 19,158 shares in the company, valued at C$194,836.86. The trade was a 81.61% decrease in their position. 15.87% of the stock is owned by company insiders.

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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