Kelt Exploration (TSE:KEL) Posts Quarterly Earnings Results

Kelt Exploration (TSE:KEL) posted its earnings results on Thursday. The oil and gas exploration company reported C($0.04) earnings per share for the quarter, FiscalAI reports. Kelt Exploration had a return on equity of 5.40% and a net margin of 13.12%.The business had revenue of C$100.14 million for the quarter.

Kelt Exploration Stock Performance

KEL opened at C$7.59 on Friday. The company has a debt-to-equity ratio of 4.53, a current ratio of 0.50 and a quick ratio of 0.61. The business has a fifty day simple moving average of C$6.84 and a 200 day simple moving average of C$6.90. Kelt Exploration has a 1 year low of C$4.90 and a 1 year high of C$8.22. The company has a market capitalization of C$1.51 billion, a PE ratio of 20.51 and a beta of -0.46.

Analyst Ratings Changes

Separately, CIBC raised their price target on Kelt Exploration from C$10.50 to C$11.00 in a report on Friday. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Kelt Exploration currently has a consensus rating of “Buy” and an average price target of C$9.92.

Insider Buying and Selling at Kelt Exploration

In other news, insider Louise Lee sold 7,776 shares of Kelt Exploration stock in a transaction on Monday, October 20th. The stock was sold at an average price of C$6.03, for a total transaction of C$46,889.28. Following the completion of the sale, the insider owned 21,802 shares of the company’s stock, valued at approximately C$131,466.06. This trade represents a 26.29% decrease in their ownership of the stock. Also, Director Raymond Kwan bought 49,305 shares of Kelt Exploration stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of C$6.65 per share, with a total value of C$327,878.25. Following the transaction, the director owned 105,755 shares of the company’s stock, valued at C$703,270.75. This trade represents a 87.34% increase in their position. 15.87% of the stock is owned by company insiders.

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.