Kelt Exploration (TSE:KEL) Sets New 1-Year High – Should You Buy?

Kelt Exploration Ltd. (TSE:KEL)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$9.09 and last traded at C$9.05, with a volume of 210404 shares changing hands. The stock had previously closed at C$8.79.

Analysts Set New Price Targets

KEL has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce increased their price target on Kelt Exploration from C$10.50 to C$11.00 in a research report on Friday, November 14th. TD Securities set a C$9.50 price objective on Kelt Exploration and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$9.63.

Kelt Exploration Stock Performance

The stock’s 50 day simple moving average is C$8.06 and its two-hundred day simple moving average is C$7.42. The company has a market capitalization of C$1.81 billion, a P/E ratio of 31.34 and a beta of -0.16. The company has a debt-to-equity ratio of 16.74, a current ratio of 0.69 and a quick ratio of 0.61.

Insider Buying and Selling

In other Kelt Exploration news, insider Bruce Douglas Gigg sold 80,000 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of C$8.09, for a total transaction of C$647,200.00. Following the transaction, the insider owned 224,574 shares of the company’s stock, valued at approximately C$1,816,803.66. This represents a 26.27% decrease in their position. Also, insider Sadiq Lalani sold 50,000 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of C$8.05, for a total value of C$402,500.00. Following the completion of the transaction, the insider owned 1,845,000 shares in the company, valued at C$14,852,250. The trade was a 2.64% decrease in their ownership of the stock. Insiders sold 224,500 shares of company stock worth $1,808,529 in the last quarter. 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.