Kelt Exploration (TSE:KEL) Price Target Raised to C$11.00

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

Several other analysts have also weighed in on the stock. BMO Capital Markets raised their price objective on shares of Kelt Exploration from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a report on Friday, March 13th. TD Securities raised their price objective on shares of Kelt Exploration from C$9.00 to C$11.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Finally, Ventum Financial set a C$12.50 price objective on shares of Kelt Exploration and gave the stock a “buy” rating in a report on Tuesday, March 24th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$11.10.

Kelt Exploration Stock Performance

TSE KEL opened at C$8.61 on Monday. The firm has a market cap of C$1.73 billion, a price-to-earnings ratio of 27.77 and a beta of -0.28. The company has a 50 day moving average of C$8.77 and a 200-day moving average of C$7.82. The company has a current ratio of 1.00, a quick ratio of 0.61 and a debt-to-equity ratio of 15.87. Kelt Exploration has a 1-year low of C$5.46 and a 1-year high of C$9.62.

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

Insider Buying and Selling at Kelt Exploration

In other news, insider Sadiq Lalani sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$8.05, for a total transaction of C$402,500.00. Following the sale, the insider directly owned 1,845,000 shares of the company’s stock, valued at C$14,852,250. This represents a 2.64% decrease in their ownership of the stock. Also, insider Alan G. Franks sold 7,500 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of C$8.84, for a total transaction of C$66,300.00. Following the sale, the insider directly owned 19,158 shares in the company, valued at C$169,356.72. This trade represents a 28.13% decrease in their ownership of the stock. Insiders sold 308,969 shares of company stock valued at $2,595,891 over the last three months. Insiders own 15.87% of the company’s stock.

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.