Kelt Exploration (TSE:KEL) Price Target Raised to C$11.00 at TD Securities

Kelt Exploration (TSE:KEL) had its price objective lifted by TD Securities from C$9.00 to C$11.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. TD Securities’ target price would suggest a potential upside of 17.65% from the company’s previous close.

Separately, Canadian Imperial Bank of Commerce lifted their price objective on shares of Kelt Exploration from C$10.50 to C$11.00 in a research note on Friday, November 14th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$10.30.

Kelt Exploration Stock Performance

TSE KEL traded up C$0.29 during trading on Friday, hitting C$9.35. 528,237 shares of the company’s stock traded hands, compared to its average volume of 515,813. The company has a debt-to-equity ratio of 16.74, a quick ratio of 0.61 and a current ratio of 0.69. The stock has a market capitalization of C$1.86 billion, a price-to-earnings ratio of 32.24 and a beta of -0.16. Kelt Exploration has a 12-month low of C$4.90 and a 12-month high of C$9.42. The business has a 50 day moving average of C$8.12 and a 200-day moving average of C$7.45.

Kelt Exploration (TSE:KEL) last posted its earnings results on Thursday, March 12th. The oil and gas exploration company reported C$0.09 earnings per share for the quarter. Kelt Exploration had a net margin of 11.69% and a return on equity of 5.27%. The firm had revenue of C$132.64 million during the quarter. As a group, equities research analysts anticipate that Kelt Exploration will post 0.5224359 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Bruce Douglas Gigg sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$8.09, for a total value of C$647,200.00. Following the completion of the transaction, the insider directly owned 224,574 shares in the company, valued at approximately C$1,816,803.66. This trade represents a 26.27% decrease in their ownership of the stock. Also, insider Sadiq Lalani sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$8.05, for a total transaction of C$402,500.00. Following the transaction, the insider directly owned 1,845,000 shares of the company’s stock, valued at approximately C$14,852,250. This represents a 2.64% decrease in their position. Insiders have sold a total of 224,500 shares of company stock worth $1,808,529 over the last ninety days. Company insiders own 15.87% of the company’s stock.

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.