Kelt Exploration Ltd. (TSE:KEL) Stock Has Consensus Price Target of C$11.68 According to Brokerages

Key Points

• Analysts unanimously recommend buying Kelt Exploration: All six analysts covering the stock rate it “Buy,” with an average 12-month price target of C$11.68. Recent targets include C$13.25 from National Bank Financial and C$13.00 from Scotia.
• Insider ownership declined slightly: Insider Patrick William George Miles sold 26,683 shares at an average of C$9.52, reducing his holdings by 2.84%; corporate insiders collectively own 15.87% of the company.
• Kelt reported solid quarterly results but has high leverage: The company posted C$0.22 in quarterly EPS and C$193.42 million in revenue, while its debt-to-equity ratio stood at 15.69. Shares opened at C$11.47, near their 12-month high of C$11.94.

Kelt Exploration Ltd. (TSE:KEL - Get Free Report) has received a consensus recommendation of "Buy" from the six analysts that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$11.68.

A number of research analysts have issued reports on the stock. National Bank Financial set a C$13.25 target price on shares of Kelt Exploration and gave the company an "outperform" rating in a research report on Wednesday, September 30th. Scotia set a C$13.00 price target on shares of Kelt Exploration and gave the stock a "sector outperform" rating in a research report on Wednesday, June 24th.

Insiders Place Their Bets

In related news, insider Patrick William George Miles sold 26,683 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of C$9.52, for a total value of C$254,022.16. Following the transaction, the insider directly owned 911,855 shares in the company, valued at C$8,680,859.60. This represents a 2.84% decrease in their ownership of the stock. 15.87% of the stock is owned by corporate insiders.

Kelt Exploration Trading Down 3.0%

Shares of KEL opened at C$11.47 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 15.69. Kelt Exploration has a 12-month low of C$5.96 and a 12-month high of C$11.94. The firm has a market capitalization of C$2.33 billion, a PE ratio of 42.48 and a beta of -0.10. The stock's fifty day simple moving average is C$10.59 and its 200-day simple moving average is C$9.81.

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

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.

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