Kelt Exploration (TSE:KEL) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Kelt Exploration (TSE:KEL) had its price target hoisted by analysts at Royal Bank Of Canada from C$8.50 to C$10.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the oil and gas exploration company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 6.95% from the company’s previous close.

A number of other analysts have also commented on KEL. TD Securities lifted their price objective on Kelt Exploration from C$9.00 to C$11.00 and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets upped 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. Finally, Canadian Imperial Bank of Commerce raised their target price on shares of Kelt Exploration from C$10.50 to C$11.00 in a research note on Friday, November 14th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$10.30.

Kelt Exploration Stock Up 3.2%

Shares of KEL opened at C$9.35 on Friday. The business’s fifty day moving average price is C$8.15 and its two-hundred day moving average price is C$7.47. The firm 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 52 week low of C$4.90 and a 52 week high of C$9.42. The company has a debt-to-equity ratio of 15.87, a quick ratio of 0.61 and a current ratio of 1.00.

Kelt Exploration (TSE:KEL) last released 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 return on equity of 5.65% and a net margin of 12.56%.The company had revenue of C$132.64 million during the quarter. On average, analysts predict that Kelt Exploration will post 0.5224359 earnings per share for the current year.

Insider Activity

In other news, insider Sadiq Lalani sold 50,000 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of C$8.05, for a total value of C$402,500.00. Following the transaction, the insider directly owned 1,845,000 shares in the company, valued at C$14,852,250. This trade represents a 2.64% decrease in their position. Also, insider Bruce Douglas Gigg sold 80,000 shares of Kelt Exploration stock in a transaction on Thursday, January 29th. The stock was sold at an average price of C$8.09, for a total value of C$647,200.00. Following the sale, the insider directly owned 224,574 shares of the company’s stock, valued at approximately C$1,816,803.66. This trade represents a 26.27% decrease in their ownership of the stock. Insiders have sold a total of 224,500 shares of company stock valued at $1,808,529 in the last 90 days. 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. The company owns pipeline infrastructure in some of its core regions to help move its products to domestic markets.