Kelt Exploration (TSE:KEL) Announces Earnings Results

Kelt Exploration (TSE:KEL) released its earnings results on Thursday. The oil and gas exploration company reported C$0.09 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$132.64 million for the quarter. Kelt Exploration had a return on equity of 5.27% and a net margin of 11.69%.

Kelt Exploration Stock Performance

Shares of Kelt Exploration stock opened at C$9.35 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.69 and a debt-to-equity ratio of 16.74. Kelt Exploration has a twelve month low of C$4.90 and a twelve month high of C$9.42. The stock has a market cap of C$1.86 billion, a price-to-earnings ratio of 32.24 and a beta of -0.16. The company’s fifty day moving average is C$8.15 and its 200 day moving average is C$7.46.

Insider Buying and Selling

In other Kelt Exploration news, insider Bruce Douglas Gigg sold 80,000 shares of Kelt Exploration stock in a transaction dated 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 directly owned 224,574 shares of the company’s stock, valued at approximately C$1,816,803.66. The trade was a 26.27% decrease in their position. Also, insider Patrick William George Miles sold 94,300 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of C$8.03, for a total value of C$757,229.00. Following the completion of the sale, the insider directly owned 911,855 shares of the company’s stock, valued at approximately C$7,322,195.65. The trade was a 9.37% decrease in their position. Insiders sold a total of 224,500 shares of company stock valued at $1,808,529 in the last three months. Insiders own 15.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BMO Capital Markets raised their target price on shares of Kelt Exploration from C$9.00 to C$10.00 and gave the company an “outperform” rating in a research report on Friday. TD Securities increased their price target on Kelt Exploration from C$9.00 to C$11.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank Of Canada raised their price objective on Kelt Exploration from C$8.50 to C$10.00 and gave the company an “outperform” rating in a report on Friday. Finally, Canadian Imperial Bank of Commerce boosted their price objective on Kelt Exploration from C$10.50 to C$11.00 in a research report on Friday, November 14th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$10.30.

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.