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

Key Points

• Kelt Exploration shares reached a new 52-week high of C$11.94 before last trading at C$11.47, with more than 1 million shares changing hands.
• Analysts remain bullish, with six Buy ratings, a consensus rating of “Buy,” and recent price targets of C$13.00 and C$13.25. The consensus target is C$11.68.
• The company reported quarterly EPS of C$0.22 on revenue of C$193.42 million. Insider Patrick Miles sold 26,683 shares, though insiders still own 15.87% of the company.

Kelt Exploration Ltd. (TSE:KEL - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday. The company traded as high as C$11.94 and last traded at C$11.47, with a volume of 1,071,036 shares. The stock had previously closed at C$11.82.

Analyst Ratings Changes

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

Kelt Exploration Price Performance

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 business's 50-day simple moving average is C$10.59 and its 200-day simple moving average is C$9.81. The stock has a market cap of C$2.33 billion, a PE ratio of 42.48 and a beta of -0.10.

Kelt Exploration (TSE:KEL - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The oil and gas exploration company reported C$0.22 EPS for the quarter. The company had revenue of C$193.42 million during the quarter. Kelt Exploration had a return on equity of 4.95% and a net margin of 9.66%. On average, research analysts expect that Kelt Exploration Ltd. will post 0.52 EPS for the current fiscal year.

Insider Activity at Kelt Exploration

In other Kelt Exploration news, insider Patrick William George Miles sold 26,683 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$9.52, for a total transaction of C$254,022.16. Following the sale, the insider directly owned 911,855 shares in the company, valued at approximately C$8,680,859.60. This trade represents a 2.84% decrease in their position. 15.87% of the stock is currently owned by 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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