Insider Buying: Kelt Exploration (TSE:KEL) Director Purchases 49,305 Shares of Stock

Key Points

• Raymond Kwan, a director at Kelt Exploration, purchased 49,305 shares at C$6.65 each, totaling C$327,878.25, increasing his ownership in the company by 87.34%.
• Kelt Exploration's shares have increased to C$6.70, with a market capitalization of C$1.33 billion and analyst ratings indicating a "Buy" consensus and a price target of C$9.88.
• Royal Bank of Canada recently raised their price target for Kelt Exploration from C$8.00 to C$8.50, maintaining an "outperform" rating for the stock.

Kelt Exploration Ltd. (TSE:KEL - Get Free Report) Director Raymond Kwan purchased 49,305 shares of the stock in a transaction dated Monday, August 18th. The shares were bought at an average price of C$6.65 per share, for a total transaction of C$327,878.25. Following the completion of the acquisition, the director owned 105,755 shares in the company, valued at C$703,270.75. This represents a 87.34% increase in their ownership of the stock.

Raymond Kwan also recently made the following trade(s):

• On Friday, August 15th, Raymond Kwan purchased 56,450 shares of Kelt Exploration stock. The shares were bought at an average price of C$6.65 per share, for a total transaction of C$375,392.50.

Kelt Exploration Stock Up 1.2%

Shares of Kelt Exploration stock traded up C$0.08 on Friday, hitting C$6.76. 456,282 shares of the company traded hands, compared to its average volume of 391,757. The company has a 50-day moving average price of C$7.06 and a 200 day moving average price of C$6.66. The company has a quick ratio of 0.61, a current ratio of 0.50 and a debt-to-equity ratio of 4.53. Kelt Exploration Ltd. has a 12-month low of C$4.90 and a 12-month high of C$7.97. The company has a market cap of C$1.35 billion, a PE ratio of 18.27 and a beta of -0.10.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada upped their price objective on shares of Kelt Exploration from C$8.00 to C$8.50 and gave the stock an "outperform" rating in a report on Monday, June 30th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of C$9.88.

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.