Kelt Exploration Ltd. (TSE:KEL) Stock Rated "Buy" by Wall Street Analysts

Key Points

• Analysts remain bullish: All five brokerages covering Kelt Exploration rate the stock “Buy,” with an average 12-month price target of C$11.42. Scotia separately assigned a C$13.00 target and “sector outperform” rating.
• Recent financial performance was positive: Kelt reported quarterly earnings of C$0.22 per share on revenue of C$193.42 million, with a 9.66% net margin and 4.95% return on equity.
• Shares have risen substantially over the past year: Kelt opened at C$10.68, compared with a 52-week range of C$5.96 to C$11.35. Insider Patrick William George Miles recently sold 26,683 shares for approximately C$254,000, while insiders collectively own 15.87% of the company.

Shares of Kelt Exploration Ltd. (TSE:KEL - Get Free Report) have received an average recommendation of "Buy" from the five brokerages that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$11.42.

Separately, Scotia set a C$13.00 price objective on shares of Kelt Exploration and gave the company a "sector outperform" rating in a research note on Wednesday, June 24th.

Insider Activity

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

Kelt Exploration Trading Down 0.6%

Shares of Kelt Exploration stock opened at C$10.68 on Friday. The stock has a market capitalization of C$2.17 billion, a P/E ratio of 39.56 and a beta of -0.16. Kelt Exploration has a 52-week low of C$5.96 and a 52-week high of C$11.35. 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 stock's 50-day simple moving average is C$10.19 and its 200 day simple moving average is C$9.59.

Kelt Exploration (TSE:KEL - Get Free Report) last issued its earnings results on Thursday, August 6th. The oil and gas exploration company reported C$0.22 earnings per share for the quarter. The firm had revenue of C$193.42 million during the quarter. Kelt Exploration had a net margin of 9.66% and a return on equity of 4.95%. As a group, research analysts anticipate that Kelt Exploration will post 0.5224359 EPS 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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