Kelt Exploration (TSE:KEL) Shares Climb 2.4% – Should You Buy?

Kelt Exploration Ltd. (TSE:KEL) shares were up 2.4% during mid-day trading on Wednesday. The company traded as high as C$10.49 and last traded at C$10.35. 525,370 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 658,251 shares. The stock had previously closed at C$10.11.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KEL. Royal Bank Of Canada increased their price target on shares of Kelt Exploration from C$11.00 to C$13.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. National Bank Financial set a C$13.25 price objective on shares of Kelt Exploration and gave the company an “outperform” rating in a research report on Wednesday, September 30th. Six analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$11.96.

Kelt Exploration Trading Up 2.4%

The company has a debt-to-equity ratio of 15.69, a quick ratio of 0.61 and a current ratio of 0.64. The firm has a market capitalization of C$2.08 billion, a price-to-earnings ratio of 38.33 and a beta of 0.07. The business has a fifty day moving average price of C$10.86 and a 200 day moving average price of C$9.64.

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.