Kelt Exploration (TSE:KEL) Share Price Crosses Below 200-Day Moving Average - Time to Sell?

Key Points

• Kelt Exploration's stock price fell below its 200-day moving average of C$6.65, closing at C$6.58 during trading with approximately 258,775 shares exchanged.
• Despite the dip, Royal Bank Of Canada upgraded Kelt Exploration's price target from C$8.00 to C$8.50, maintaining an "outperform" rating.
• The company's debt-to-equity ratio stands at 4.53, indicating significant leverage, while insiders own 15.87% of the stock, highlighting their confidence in the business.

Kelt Exploration Ltd. (TSE:KEL - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$6.65 and traded as low as C$6.47. Kelt Exploration shares last traded at C$6.58, with a volume of 258,775 shares.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada raised 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 investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of C$9.88.

Kelt Exploration Price Performance

The company has a debt-to-equity ratio of 4.53, a current ratio of 0.50 and a quick ratio of 0.61. The company's 50 day moving average price is C$7.06 and its 200 day moving average price is C$6.66. The firm has a market capitalization of C$1.35 billion, a P/E ratio of 18.27 and a beta of -0.10.

Insider Activity at Kelt Exploration

In other Kelt Exploration news, Senior Officer Douglas Owen Macarthur sold 13,000 shares of the firm's 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. Also, Director Raymond Kwan acquired 49,305 shares of Kelt Exploration stock in a transaction on Monday, August 18th. The stock was acquired at an average cost of C$6.65 per share, for a total transaction of C$327,878.25. Following the completion of the purchase, the director owned 105,755 shares of the company's stock, valued at approximately C$703,270.75. The trade was a 87.34% increase in their position. 15.87% of the stock is owned by corporate 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.