Kelt Exploration (TSE:KEL) Price Target Raised to C$13.00

Kelt Exploration (TSE:KEL) had its price target raised by Royal Bank Of Canada from C$11.00 to C$13.00 in a report released on Wednesday,BayStreet reports. Royal Bank Of Canada currently has an outperform rating on the oil and gas exploration company’s stock.

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

Kelt Exploration Stock Performance

KEL opened at C$11.71 on Wednesday. The stock’s 50 day simple moving average is C$10.72 and its 200-day simple moving average is C$9.86. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 15.69. The stock has a market cap of C$2.38 billion, a PE ratio of 43.37 and a beta of -0.10. Kelt Exploration has a 1 year low of C$6.07 and a 1 year high of C$11.94.

Kelt Exploration (TSE:KEL) last issued its earnings results on Thursday, August 6th. The oil and gas exploration company reported C$0.22 EPS for the quarter. Kelt Exploration had a return on equity of 4.95% and a net margin of 9.66%. The firm had revenue of C$193.42 million during the quarter. Sell-side analysts forecast that Kelt Exploration will post 0.52 EPS for the current year.

Insider Activity

In other news, insider Patrick William George Miles sold 26,683 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of C$9.52, for a total value of C$254,022.16. Following the transaction, the insider directly owned 911,855 shares of the company’s stock, valued at C$8,680,859.60. The trade was a 2.84% decrease in their position. Company 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.