Kelt Exploration (TSE:KEL) Price Target Raised to C$10.00 at BMO Capital Markets

Kelt Exploration (TSE:KEL) had its price objective hoisted by BMO Capital Markets from C$9.00 to C$10.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the oil and gas exploration company’s stock. BMO Capital Markets’ price objective points to a potential upside of 6.95% from the company’s current price.

A number of other brokerages have also recently commented on KEL. TD Securities increased their target price on Kelt Exploration from C$9.00 to C$11.00 and gave the company a “buy” rating in a report on Friday. Canadian Imperial Bank of Commerce boosted their price target on Kelt Exploration from C$10.50 to C$11.00 in a research report on Friday, November 14th. Three 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

KEL traded up C$0.29 on Friday, reaching C$9.35. The stock had a trading volume of 528,237 shares, compared to its average volume of 515,813. The business’s 50-day moving average price is C$8.12 and its two-hundred day moving average price is C$7.45. The company has a market cap of C$1.86 billion, a P/E 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 company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 16.74.

Kelt Exploration (TSE:KEL) last announced its earnings results on Thursday, March 12th. The oil and gas exploration company reported C$0.09 earnings per share for the quarter. The business had revenue of C$132.64 million during the quarter. Kelt Exploration had a return on equity of 5.27% and a net margin of 11.69%. Sell-side analysts forecast that Kelt Exploration will post 0.5224359 earnings per share for the current year.

Insider Activity at Kelt Exploration

In other news, insider Patrick William George Miles sold 94,300 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$8.03, for a total transaction of C$757,229.00. Following the transaction, the insider directly owned 911,855 shares in the company, valued at C$7,322,195.65. The trade was a 9.37% decrease in their position. Also, insider Bruce Douglas Gigg sold 80,000 shares of the company’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 sale, the insider owned 224,574 shares of the company’s stock, valued at C$1,816,803.66. This trade represents a 26.27% decrease in their ownership of the stock. In the last quarter, insiders sold 224,500 shares of company stock valued at $1,808,529. Corporate 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.