Insider Selling: Kelt Exploration (TSE:KEL) Insider Sells C$647,200.00 in Stock

Kelt Exploration Ltd. (TSE:KEL) insider Bruce Douglas Gigg sold 80,000 shares of the business’s stock in a transaction dated 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 owned 224,574 shares in the company, valued at C$1,816,803.66. This trade represents a 26.27% decrease in their position.

Kelt Exploration Trading Up 2.0%

Shares of KEL stock opened at C$8.29 on Tuesday. The company has a market capitalization of C$1.65 billion, a P/E ratio of 28.59 and a beta of -0.36. The company has a current ratio of 0.50, a quick ratio of 0.61 and a debt-to-equity ratio of 4.53. The business’s 50 day moving average is C$7.69 and its two-hundred day moving average is C$7.22. Kelt Exploration Ltd. has a twelve month low of C$4.90 and a twelve month high of C$8.71.

Wall Street Analyst Weigh In

KEL has been the subject of a number of analyst reports. TD Securities set a C$9.50 price objective on shares of Kelt Exploration and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Canadian Imperial Bank of Commerce increased their price target on shares of Kelt Exploration from C$10.50 to C$11.00 in a report on Friday, November 14th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Kelt Exploration has a consensus rating of “Buy” and an average target price of C$9.63.

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.