Kelt Exploration (TSE:KEL) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Kelt Exploration's share price has surpassed its 200-day moving average, currently trading at C$6.72 with a volume of 304,915 shares.
• The Royal Bank Of Canada has raised its price target for Kelt Exploration from C$8.00 to C$8.50 while maintaining an "outperform" rating.
• Kelt Exploration has a market capitalization of C$1.34 billion and a debt-to-equity ratio of 4.53, indicating financial leverage in its operations.

Kelt Exploration Ltd. (TSE:KEL - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$6.66 and traded as high as C$6.83. Kelt Exploration shares last traded at C$6.72, with a volume of 304,915 shares traded.

Wall Street Analyst Weigh In

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

Kelt Exploration Stock Down 2.6%

The business's 50-day moving average price is C$7.16 and its 200-day moving average price is 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. The firm has a market capitalization of C$1.32 billion, a PE ratio of 17.89 and a beta of 0.03.

Insiders Place Their Bets

In other Kelt Exploration news, Senior Officer Douglas Owen Macarthur sold 13,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of C$7.94, for a total value of C$103,220.00. Corporate insiders own 15.87% of the company's stock.

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.