Kelt Exploration (TSE:KEL) Given New C$11.00 Price Target at TD Securities

Key Points

• TD Securities raised its price target to C$11.00 (from C$9.00) and kept a Buy rating; CIBC also raised its target to C$11.00, with TD’s objective implying roughly a 17.65% upside from the current share price.
• The stock traded at C$9.35 mid-day and carries a consensus analyst Buy rating with a consensus target of C$10.30; Kelt has a market cap of C$1.86 billion and a P/E of 32.24.
• Insiders sold 224,500 shares (valued at $1,808,529) over the past three months, although company insiders still own 15.87% of the shares outstanding.

Kelt Exploration (TSE:KEL - Get Free Report) had its price target lifted by investment analysts at TD Securities from C$9.00 to C$11.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the oil and gas exploration company's stock. TD Securities' price objective suggests a potential upside of 17.65% from the stock's current price.

Separately, Canadian Imperial Bank of Commerce raised their target price on Kelt Exploration from C$10.50 to C$11.00 in a research report on Friday, November 14th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of C$10.30.

Kelt Exploration Stock Performance

Shares of Kelt Exploration stock traded up C$0.29 during mid-day trading on Friday, hitting C$9.35. 528,237 shares of the stock were exchanged, compared to its average volume of 515,813. Kelt Exploration has a 12 month low of C$4.90 and a 12 month high of C$9.42. The company has a 50-day simple moving average of C$8.12 and a 200 day simple moving average of C$7.45. The company has a market capitalization of C$1.86 billion, a P/E ratio of 32.24 and a beta of -0.16. The company has a debt-to-equity ratio of 16.74, a quick ratio of 0.61 and a current ratio of 0.69.

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 EPS for the quarter. Kelt Exploration had a return on equity of 5.27% and a net margin of 11.69%.The company had revenue of C$132.64 million during the quarter. Sell-side analysts anticipate that Kelt Exploration will post 0.5224359 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Patrick William George Miles sold 94,300 shares of the firm's stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$8.03, for a total transaction of C$757,229.00. Following the completion of the sale, the insider owned 911,855 shares in the company, valued at C$7,322,195.65. This trade represents a 9.37% decrease in their position. Also, insider Sadiq Lalani sold 50,000 shares of Kelt Exploration stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$8.05, for a total transaction of C$402,500.00. Following the completion of the sale, the insider directly owned 1,845,000 shares in the company, valued at C$14,852,250. This trade represents a 2.64% decrease in their position. Insiders sold 224,500 shares of company stock valued at $1,808,529 in the last three months. 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.

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