Royal Bank Of Canada Forecasts Strong Price Appreciation for Kelt Exploration (TSE:KEL) Stock

Key Points

• Royal Bank of Canada raised Kelt Exploration’s price target to C$13.00 from C$11.00 while maintaining an “outperform” rating, implying 11.97% upside from the reported C$11.61 share price.
• Analyst sentiment remains positive: six analysts rate the stock Buy, with a consensus target of C$11.96; National Bank Financial and Scotia also maintain outperform ratings with targets of C$13.25 and C$13.00, respectively.
• Kelt shares rose 1.2% during Wednesday trading, while the company reported C$0.22 quarterly EPS on C$193.42 million in revenue. Insider Patrick Miles sold 26,683 shares, though insiders still own 15.87% of the company.

Kelt Exploration (TSE:KEL - Get Free Report) had its price objective increased by Royal Bank Of Canada from C$11.00 to C$13.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The firm currently has an "outperform" rating on the oil and gas exploration company's stock. Royal Bank Of Canada's target price suggests a potential upside of 11.97% from the company's current price.

KEL has been the topic of several other reports. National Bank Financial set a C$13.25 target price on shares of Kelt Exploration and gave the stock an "outperform" rating in a report on Wednesday, September 30th. Scotia set a C$13.00 price target on shares of Kelt Exploration and gave the company a "sector outperform" rating in a research note on Wednesday, June 24th. Six research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Kelt Exploration has an average rating of "Buy" and a consensus target price of C$11.96.

Kelt Exploration Stock Up 1.2%

Shares of TSE KEL traded up C$0.14 during mid-day trading on Wednesday, reaching C$11.61. 448,431 shares of the company's stock were exchanged, compared to its average volume of 640,015. The firm has a market capitalization of C$2.36 billion, a price-to-earnings ratio of 43.00 and a beta of -0.10. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 15.69. The business has a fifty day simple moving average of C$10.59 and a 200 day simple moving average of C$9.81. Kelt Exploration has a twelve month low of C$6.07 and a twelve month high of C$11.94.

Kelt Exploration (TSE:KEL - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The oil and gas exploration company reported C$0.22 earnings per share for the quarter. Kelt Exploration had a return on equity of 4.95% and a net margin of 9.66%. The business had revenue of C$193.42 million for the quarter. As a group, equities analysts expect that Kelt Exploration will post 0.52 EPS for the current fiscal year.

Insider Transactions at Kelt Exploration

In other Kelt Exploration news, insider Patrick William George Miles sold 26,683 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of C$9.52, for a total transaction of C$254,022.16. Following the completion of the transaction, the insider owned 911,855 shares in the company, valued at approximately C$8,680,859.60. This represents a 2.84% decrease in their position. Company 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.

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