Kelt Exploration (TSE:KEL) Given New C$10.00 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets raised its target on Kelt Exploration to C$10.00 (from C$9.00) and kept an "outperform" rating, while CIBC and TD also lifted targets to C$11.00 — the consensus rating is "Buy" with a C$10.30 consensus price target.
• KEL shares traded at C$9.35 on Friday with a market cap of C$1.86 billion and a P/E of 32.24, trading near their 12‑month high of C$9.42.
• Insiders sold 224,500 shares (~C$1.8M) in the past 90 days, trimming positions though insiders still own about 15.87% of the company.

Kelt Exploration (TSE:KEL - Get Free Report) had its target price lifted by investment analysts at BMO Capital Markets from C$9.00 to C$10.00 in a report released on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the oil and gas exploration company's stock. BMO Capital Markets' target price would suggest a potential upside of 6.95% from the stock's previous close.

Other equities analysts also recently issued reports about the company. Canadian Imperial Bank of Commerce upped their target price on Kelt Exploration from C$10.50 to C$11.00 in a research report on Friday, November 14th. TD Securities lifted their price target on Kelt Exploration from C$9.00 to C$11.00 and gave the stock a "buy" rating in a research report on Friday. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of C$10.30.

Kelt Exploration Stock Performance

KEL stock traded up C$0.29 during trading on Friday, reaching C$9.35. The company had a trading volume of 528,237 shares, compared to its average volume of 515,813. The company has a market cap of C$1.86 billion, a price-to-earnings ratio of 32.24 and a beta of -0.16. Kelt Exploration has a twelve month low of C$4.90 and a twelve month high of C$9.42. The company has a debt-to-equity ratio of 16.74, a quick ratio of 0.61 and a current ratio of 0.69. The firm has a 50-day simple moving average of C$8.12 and a 200-day simple moving average of C$7.45.

Kelt Exploration (TSE:KEL - Get Free Report) last issued its quarterly earnings results on Thursday, March 12th. The oil and gas exploration company reported C$0.09 earnings per share (EPS) for the quarter. The business had revenue of C$132.64 million for the quarter. Kelt Exploration had a net margin of 11.69% and a return on equity of 5.27%. As a group, sell-side analysts expect that Kelt Exploration will post 0.5224359 earnings per share for the current year.

Insider Buying and Selling at Kelt Exploration

In other news, insider Patrick William George Miles sold 94,300 shares of the company's stock in a transaction on Thursday, January 29th. The shares were sold at an average price of C$8.03, for a total value of C$757,229.00. Following the sale, the insider directly owned 911,855 shares of the company's stock, valued at C$7,322,195.65. This represents a 9.37% decrease in their position. Also, insider Bruce Douglas Gigg sold 80,000 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of C$8.09, for a total transaction of C$647,200.00. Following the completion of the sale, the insider owned 224,574 shares in the company, valued at C$1,816,803.66. The trade was a 26.27% decrease in their position. In the last ninety days, insiders sold 224,500 shares of company stock worth $1,808,529. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.