BMO Capital Markets Forecasts Strong Price Appreciation for Kelt Exploration (TSE:KEL) Stock

Kelt Exploration (TSE:KEL) had its price target increased by equities researchers at BMO Capital Markets from C$9.00 to C$10.00 in a research report issued 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 would suggest a potential upside of 6.95% from the stock’s previous close.

Several other brokerages also recently commented on KEL. TD Securities lifted their price target on Kelt Exploration from C$9.00 to C$11.00 and gave the stock a “buy” rating in a research report on Friday. Canadian Imperial Bank of Commerce increased 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, the company currently has an average rating of “Buy” and an average price target of C$10.30.

Kelt Exploration Trading Up 3.2%

Shares of TSE:KEL opened at C$9.35 on Friday. The company has a debt-to-equity ratio of 15.87, a quick ratio of 0.61 and a current ratio of 1.00. The stock’s 50-day moving average is C$8.15 and its 200-day moving average is C$7.47. 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 52-week low of C$4.90 and a 52-week high of C$9.42.

Kelt Exploration (TSE:KEL) last posted its quarterly earnings data 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 business had revenue of C$132.64 million during the quarter. Equities research analysts predict that Kelt Exploration will post 0.5224359 earnings per share for the current year.

Insider Activity at Kelt Exploration

In related news, insider Patrick William George Miles sold 94,300 shares of Kelt Exploration stock in a transaction dated 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 sale, the insider directly owned 911,855 shares of the company’s stock, valued at C$7,322,195.65. This trade represents a 9.37% decrease in their ownership of the stock. Also, insider Sadiq Lalani sold 50,000 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of C$8.05, for a total value of C$402,500.00. Following the transaction, the insider owned 1,845,000 shares in the company, valued at C$14,852,250. This represents a 2.64% decrease in their ownership of the stock. Over the last 90 days, insiders sold 224,500 shares of company stock worth $1,808,529. Company insiders own 15.87% of the company’s stock.

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.