Kelt Exploration (TSE:KEL) Reaches New 12-Month High – Still a Buy?

Kelt Exploration Ltd. (TSE:KEL)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$10.45 and last traded at C$10.39, with a volume of 43315 shares. The stock had previously closed at C$10.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KEL shares. Royal Bank Of Canada raised their price objective on Kelt Exploration from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Scotia set a C$13.00 target price on Kelt Exploration and gave the company a “sector outperform” rating in a report on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Kelt Exploration currently has a consensus rating of “Buy” and a consensus target price of C$11.42.

Kelt Exploration Stock Performance

The firm has a 50-day simple moving average of C$9.46 and a two-hundred day simple moving average of C$8.91. The company has a current ratio of 0.52, a quick ratio of 0.61 and a debt-to-equity ratio of 12.86. The company has a market capitalization of C$2.04 billion, a price-to-earnings ratio of 45.91 and a beta of -0.22.

Insider Buying and Selling at Kelt Exploration

In other Kelt Exploration news, insider Patrick William George Miles sold 56,666 shares of Kelt Exploration stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$9.90, for a total value of C$560,993.40. Following the completion of the sale, the insider directly owned 911,855 shares in the company, valued at C$9,027,364.50. The trade was a 5.85% decrease in their ownership of the stock. Also, insider Alan G. Franks sold 85,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$10.17, for a total transaction of C$864,450.00. Following the transaction, the insider owned 19,158 shares in the company, valued at approximately C$194,836.86. This trade represents a 81.61% decrease in their position. Insiders sold a total of 211,666 shares of company stock worth $2,124,643 in the last ninety days. 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.