Kelt Exploration Ltd. (TSE:KEL) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Analysts maintain a bullish outlook: All five brokerages covering Kelt Exploration rate the stock “Buy,” with an average 12-month price target of C$11.42. RBC raised its target to C$11.00, while Scotia set a C$13.00 target.
• Shares recently declined 2.6% to C$9.50, but remain above their 200-day moving average; the stock has traded between C$5.96 and C$10.45 over the past year.
• Kelt Exploration reported quarterly revenue of C$193.42 million and earnings of C$0.22 per share. Meanwhile, insiders sold 211,666 shares worth approximately C$2.12 million over the past 90 days.

Shares of Kelt Exploration Ltd. (TSE:KEL - Get Free Report) have been given a consensus rating of "Buy" by the five brokerages that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$11.42.

Several research firms recently issued reports on KEL. Royal Bank Of Canada boosted their target price on shares of Kelt Exploration from C$10.00 to C$11.00 and gave the company an "outperform" rating in a report on Monday, April 13th. Scotia set a C$13.00 price target on Kelt Exploration and gave the stock a "sector outperform" rating in a report on Wednesday, June 24th.

Kelt Exploration Trading Down 2.6%

Kelt Exploration stock traded down C$0.25 during mid-day trading on Friday, hitting C$9.50. 563,345 shares of the stock were exchanged, compared to its average volume of 595,964. The company has a quick ratio of 0.61, a current ratio of 0.52 and a debt-to-equity ratio of 12.86. Kelt Exploration has a 12 month low of C$5.96 and a 12 month high of C$10.45. The firm's fifty day simple moving average is C$9.46 and its two-hundred day simple moving average is C$9.07. The stock has a market capitalization of C$1.92 billion, a price-to-earnings ratio of 43.18 and a beta of -0.24.

Kelt Exploration (TSE:KEL - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The oil and gas exploration company reported C$0.22 EPS for the quarter. Kelt Exploration had a net margin of 8.73% and a return on equity of 3.96%. The company had revenue of C$193.42 million for the quarter. Analysts forecast that Kelt Exploration will post 0.5224359 EPS for the current year.

Insiders Place Their Bets

In related news, insider Alan G. Franks sold 85,000 shares of the company's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of C$10.17, for a total transaction of C$864,450.00. Following the sale, the insider owned 19,158 shares in the company, valued at C$194,836.86. This represents a 81.61% decrease in their position. Also, insider Patrick William George Miles sold 56,666 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$9.90, for a total value of C$560,993.40. Following the sale, the insider directly owned 911,855 shares of the company's stock, valued at C$9,027,364.50. This represents a 5.85% decrease in their position. Insiders sold 211,666 shares of company stock valued at $2,124,643 over the last 90 days. 15.87% of the stock is owned by company insiders.

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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