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

Key Points

• Kelt Exploration shares reached a new 52-week high of C$11.36, closing near C$11.32 versus the prior close of C$10.99.
• Analyst sentiment remains positive: six analysts rate the stock Buy, with a consensus rating of “Buy” and an average price target of C$11.68; Scotia and National Bank set targets of C$13.00 and C$13.25, respectively.
• The company reported quarterly revenue of C$193.42 million and EPS of C$0.22. Insider ownership stands at 15.87%, although one insider recently sold 26,683 shares.

Kelt Exploration Ltd. (TSE:KEL - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday. The stock traded as high as C$11.36 and last traded at C$11.32, with a volume of 171159 shares trading hands. The stock had previously closed at C$10.99.

Analysts Set New Price Targets

KEL has been the topic of several recent analyst reports. Scotia set a C$13.00 price target on Kelt Exploration and gave the company a "sector outperform" rating in a report on Wednesday, June 24th. National Bank Financial set a C$13.25 price objective on shares of Kelt Exploration and gave the stock an "outperform" rating in a research report on Wednesday, September 30th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Kelt Exploration has a consensus rating of "Buy" and an average target price of C$11.68.

Kelt Exploration Price Performance

The company has a market capitalization of C$2.30 billion, a PE ratio of 41.93 and a beta of -0.10. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 15.69. The firm's 50-day moving average is C$10.32 and its 200-day moving average is C$9.69.

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

Insider Buying and Selling at Kelt Exploration

In related news, insider Patrick William George Miles sold 26,683 shares of the business's stock in a transaction that occurred on 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 completion of the sale, 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. Corporate insiders own 15.87% of the company's stock.

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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