Kelt Exploration (TSE:KEL) Hits New 12-Month High After Analyst Upgrade

Kelt Exploration Ltd. (TSE:KEL) hit a new 52-week high during mid-day trading on Wednesday after Royal Bank Of Canada raised their price target on the stock from C$11.00 to C$13.00. Royal Bank Of Canada currently has an outperform rating on the stock. Kelt Exploration traded as high as C$11.94 and last traded at C$11.47, with a volume of 1,071,036 shares changing hands. The stock had previously closed at C$11.82.

Other analysts also recently issued reports about the stock. Scotia set a C$13.00 price objective on shares of Kelt Exploration and gave the company a “sector outperform” rating in a research report on Wednesday, June 24th. National Bank Financial set a C$13.25 price target on Kelt Exploration and gave the stock an “outperform” rating in a report on Wednesday, September 30th. Six analysts have rated the stock with a Buy rating. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$11.96.

Insiders Place Their Bets

In other Kelt Exploration news, insider Patrick William George Miles sold 26,683 shares of Kelt Exploration stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of C$9.52, for a total value 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. The trade was a 2.84% decrease in their position. Insiders own 15.87% of the company’s stock.

Kelt Exploration Stock Performance

The company has a market capitalization of C$2.35 billion, a P/E ratio of 42.81 and a beta of -0.10. The business has a 50 day moving average of C$10.67 and a 200 day moving average of C$9.85. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 15.69.

Kelt Exploration (TSE:KEL) last issued its quarterly earnings data on Thursday, August 6th. The oil and gas exploration company reported C$0.22 earnings per share (EPS) for the quarter. The business 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%. On average, sell-side analysts predict that Kelt Exploration Ltd. will post 0.52 earnings per share for the current year.

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.