Kelt Exploration (TSE:KEL) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada lifted its price target on Kelt Exploration to C$11.00 (from C$10.00) and kept an "outperform" rating, implying about a 24.15% upside from the current share price; the consensus analyst rating is Buy with a C$11.10 average target.
• Shares traded at C$8.86 (up ~2%) with a market cap of C$1.78 billion and a P/E of 28.6; the company reported C$0.09 EPS and C$132.6M revenue for the most recent quarter and analysts expect roughly C$0.522 EPS for the year.
• Insiders have been selling—308,969 shares (~US$2.6M) were sold in the last quarter, including recent April 2 sales by two insiders, though insiders still own about 15.87% of the company.

Kelt Exploration (TSE:KEL - Get Free Report) had its price target boosted by equities researchers at Royal Bank Of Canada from C$10.00 to C$11.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the oil and gas exploration company's stock. Royal Bank Of Canada's price objective points to a potential upside of 24.15% from the stock's current price.

A number of other research firms also recently commented on KEL. Ventum Financial set a C$12.50 price objective on Kelt Exploration and gave the stock a "buy" rating in a report on Tuesday, March 24th. BMO Capital Markets raised their price objective on Kelt Exploration from C$9.00 to C$10.00 and gave the stock an "outperform" rating in a report on Friday, March 13th. Finally, TD Securities raised their price objective on Kelt Exploration from C$9.00 to C$11.00 and gave the stock a "buy" rating in a report on Friday, March 13th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of C$11.10.

Kelt Exploration Trading Up 2.0%

Shares of Kelt Exploration stock traded up C$0.17 during trading hours on Monday, reaching C$8.86. The stock had a trading volume of 152,626 shares, compared to its average volume of 546,780. The firm has a 50 day simple moving average of C$8.72 and a two-hundred day simple moving average of C$7.79. The firm has a market capitalization of C$1.78 billion, a price-to-earnings ratio of 28.58 and a beta of -0.28. The company has a current ratio of 1.00, a quick ratio of 0.61 and a debt-to-equity ratio of 15.87. Kelt Exploration has a 1 year low of C$5.29 and a 1 year high of C$9.62.

Kelt Exploration (TSE:KEL - Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The oil and gas exploration company reported C$0.09 EPS for the quarter. The company had revenue of C$132.64 million for the quarter. Kelt Exploration had a return on equity of 5.65% and a net margin of 12.56%. As a group, equities research analysts anticipate that Kelt Exploration will post 0.5224359 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David A. Gillis sold 3,853 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of C$8.84, for a total value of C$34,060.52. Following the completion of the sale, the insider owned 78,821 shares in the company, valued at approximately C$696,777.64. This trade represents a 4.66% decrease in their ownership of the stock. Also, insider Alan G. Franks sold 7,500 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of C$8.84, for a total value of C$66,300.00. Following the completion of the sale, the insider owned 19,158 shares of the company's stock, valued at approximately C$169,356.72. This trade represents a 28.13% decrease in their position. In the last quarter, insiders have sold 308,969 shares of company stock valued at $2,595,891. 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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