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

Key Points

• Kelt Exploration shares hit a new 52-week high, reaching C$11.39 and closing near C$11.33, up 2.7% from the prior close.
• Analyst sentiment remains positive: six analysts rate the stock a Buy, with an average price target of C$11.68 and targets as high as C$13.25.
• The company reported quarterly EPS of C$0.22 on revenue of C$193.42 million, while an insider sold 26,683 shares; insiders continue to own 15.87% of the company.

Kelt Exploration Ltd. (TSE:KEL - Get Free Report) shares reached a new 52-week high on Thursday. The stock traded as high as C$11.39 and last traded at C$11.33, with a volume of 1,162,714 shares traded. The stock had previously closed at C$10.97.

Analyst Ratings Changes

A number of brokerages recently weighed in on KEL. Scotia set a C$13.00 price target on Kelt Exploration and gave the stock a "sector outperform" rating in a research note on Wednesday, June 24th. National Bank Financial set a C$13.25 target price on shares of Kelt Exploration and gave the company an "outperform" rating in a research note on Wednesday, September 30th. Six equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of C$11.68.

Kelt Exploration Stock Up 2.7%

The business's 50 day simple moving average is C$10.43 and its 200-day simple moving average is C$9.74. The company has a market cap of C$2.29 billion, a price-to-earnings ratio of 41.74 and a beta of -0.10. The company has a debt-to-equity ratio of 15.69, a quick ratio of 0.61 and a current ratio of 0.64.

Kelt Exploration (TSE:KEL - Get Free Report) last issued its earnings results on Thursday, August 6th. The oil and gas exploration company reported C$0.22 EPS for the quarter. The firm 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%. Sell-side analysts expect that Kelt Exploration Ltd. will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Patrick William George Miles sold 26,683 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of C$9.52, for a total transaction of C$254,022.16. Following the transaction, the insider owned 911,855 shares of the company's stock, valued at approximately C$8,680,859.60. This trade represents a 2.84% decrease in their ownership of the stock. 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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