Royal Bank Of Canada Issues Positive Forecast for Kelt Exploration (TSE:KEL) Stock Price

Kelt Exploration (TSE:KEL) had its price objective lifted by Royal Bank Of Canada from C$10.00 to C$11.00 in a report released on Monday morning,BayStreet.CA reports. They currently have an outperform rating on the oil and gas exploration company’s stock.

A number of other equities research analysts also recently weighed in on KEL. BMO Capital Markets upped their target price on Kelt Exploration from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a research report on Friday, March 13th. Ventum Financial set a C$12.50 target price on Kelt Exploration and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, TD Securities upped their target price on Kelt Exploration from C$9.00 to C$11.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$11.10.

Kelt Exploration Stock Performance

Shares of TSE KEL opened at C$8.89 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.61 and a debt-to-equity ratio of 15.87. The stock has a 50 day simple moving average of C$8.75 and a 200-day simple moving average of C$7.81. The company has a market cap of C$1.78 billion, a PE ratio of 28.68 and a beta of -0.28. Kelt Exploration has a 12-month low of C$5.29 and a 12-month high of C$9.62.

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. The firm had revenue of C$132.64 million during the quarter. Kelt Exploration had a return on equity of 5.65% and a net margin of 12.56%. On average, equities research analysts forecast that Kelt Exploration will post 0.5224359 EPS for the current year.

Insider Activity at Kelt Exploration

In other news, insider Bruce Douglas Gigg sold 80,000 shares of the stock in a transaction on 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 completion of the sale, the insider owned 224,574 shares in the company, valued at approximately C$1,816,803.66. This represents a 26.27% decrease in their position. Also, insider Alan G. Franks sold 7,500 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of C$8.84, for a total value of C$66,300.00. Following the sale, the insider owned 19,158 shares of the company’s stock, valued at C$169,356.72. This trade represents a 28.13% decrease in their position. In the last three months, insiders have sold 308,969 shares of company stock worth $2,595,891. 15.87% of the stock is owned by corporate insiders.

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.