Kelt Exploration (TSE:KEL) Hits New 52-Week High – Time to Buy?

Kelt Exploration Ltd. (TSE:KEL)’s stock price hit a new 52-week high on Tuesday . The company traded as high as C$8.33 and last traded at C$8.30, with a volume of 253207 shares. The stock had previously closed at C$8.13.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on KEL shares. Canadian Imperial Bank of Commerce boosted their target price on Kelt Exploration from C$10.50 to C$11.00 in a report on Friday, November 14th. TD Securities set a C$9.50 target price on shares of Kelt Exploration and gave the company a “buy” rating in a research note on Tuesday, January 6th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$9.63.

Kelt Exploration Price Performance

The company has a market cap of C$1.64 billion, a P/E ratio of 28.31 and a beta of -0.36. The stock has a 50-day simple moving average of C$7.65 and a 200 day simple moving average of C$7.19. The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.61 and a current ratio of 0.50.

Kelt Exploration (TSE:KEL) last issued its earnings results on Thursday, November 13th. The oil and gas exploration company reported C($0.04) EPS for the quarter. Kelt Exploration had a return on equity of 5.40% and a net margin of 13.12%.The firm had revenue of C$100.14 million during the quarter. On average, equities analysts expect that Kelt Exploration Ltd. will post 0.5224359 EPS for the current year.

Insiders Place Their Bets

In other news, insider Sadiq Lalani sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$8.05, for a total value of C$402,500.00. Following the sale, the insider directly owned 1,845,000 shares in the company, valued at approximately C$14,852,250. This represents a 2.64% decrease in their position. 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.