Royal Bank Of Canada Boosts Kelt Exploration (TSE:KEL) Price Target to C$10.00

Key Points

• Royal Bank of Canada raised its price target on Kelt Exploration from C$8.50 to C$10.00 and kept an "outperform" rating; other banks (TD, CIBC, BMO) also lifted targets, leaving an average analyst price target of C$10.30 and a consensus "Buy".
• Kelt shares traded up to C$9.35 (about +3.2%) with a market cap of C$1.86 billion, a P/E of 32.24, and a 12‑month range of C$4.90–C$9.42.
• Insiders have been net sellers recently—224,500 shares (~C$1.8M) sold in the last three months—although insiders still own 15.87% of the company.

Kelt Exploration (TSE:KEL - Get Free Report) had its price objective hoisted by Royal Bank Of Canada from C$8.50 to C$10.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the oil and gas exploration company's stock. Royal Bank Of Canada's target price would indicate a potential upside of 6.95% from the stock's current price.

Several other research analysts have also weighed in on the company. Canadian Imperial Bank of Commerce upped their price target on Kelt Exploration from C$10.50 to C$11.00 in a research report on Friday, November 14th. 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 research report on Friday. Finally, BMO Capital Markets upped their target price on Kelt Exploration from C$9.00 to C$10.00 and gave the company an "outperform" rating in a report on Friday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Kelt Exploration currently has an average rating of "Buy" and an average price target of C$10.30.

Kelt Exploration Trading Up 3.2%

Kelt Exploration stock traded up C$0.29 during midday trading on Friday, reaching C$9.35. The stock had a trading volume of 528,237 shares, compared to its average volume of 515,813. The firm's fifty day simple moving average is C$8.12 and its two-hundred day simple moving average is C$7.45. 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 current ratio of 0.69 and a quick ratio of 0.61. The firm 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 (TSE:KEL - Get Free Report) last announced its earnings results on Thursday, March 12th. The oil and gas exploration company reported C$0.09 earnings per share (EPS) for the quarter. The company 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%. Equities analysts anticipate that Kelt Exploration will post 0.5224359 EPS for the current fiscal year.

Insider Transactions at Kelt Exploration

In related news, insider Sadiq Lalani sold 50,000 shares of the 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 value of C$402,500.00. Following the transaction, the insider owned 1,845,000 shares in the company, valued at approximately C$14,852,250. This represents a 2.64% decrease in their ownership of the stock. Also, insider Bruce Douglas Gigg sold 80,000 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$8.09, for a total transaction of C$647,200.00. Following the transaction, the insider directly owned 224,574 shares in the company, valued at approximately C$1,816,803.66. The trade was a 26.27% decrease in their position. Insiders sold 224,500 shares of company stock valued at $1,808,529 in the last three months. 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. The company owns pipeline infrastructure in some of its core regions to help move its products to domestic markets.

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