Kelt Exploration (TSE:KEL) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Kelt Exploration Ltd. (TSE:KEL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$6.17 and traded as high as C$6.55. Kelt Exploration shares last traded at C$6.52, with a volume of 427,669 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KEL. CIBC upped their price target on Kelt Exploration from C$8.50 to C$10.00 in a research note on Monday, July 15th. Scotiabank boosted their price objective on Kelt Exploration from C$10.00 to C$10.50 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, National Bankshares reduced their target price on shares of Kelt Exploration from C$9.00 to C$8.75 in a research note on Friday, September 27th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$8.97.

Kelt Exploration Stock Down 0.6 %

The company has a debt-to-equity ratio of 1.43, a current ratio of 0.50 and a quick ratio of 0.61. The stock has a market cap of C$1.28 billion, a price-to-earnings ratio of 19.76 and a beta of 1.93. The firm has a 50 day simple moving average of C$6.34 and a two-hundred day simple moving average of C$6.17.

Kelt Exploration (TSE:KEL) last announced its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported C$0.05 earnings per share for the quarter. The business had revenue of C$109.09 million for the quarter. Kelt Exploration had a net margin of 16.02% and a return on equity of 6.72%. As a group, sell-side analysts expect that Kelt Exploration Ltd. will post 0.5224359 EPS for the current year.

Insider Buying and Selling at Kelt Exploration

In other news, Senior Officer Douglas Owen Macarthur sold 30,000 shares of Kelt Exploration stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$6.12, for a total transaction of C$183,600.00. Insiders own 15.87% of the company’s stock.

About Kelt Exploration

Kelt Exploration Ltd., an oil and gas company, engages in the exploration, development, and production of crude oil and natural gas resources primarily in Western Canada. The company markets its crude oil and natural gas liquids primarily to third party. Kelt Exploration Ltd. was incorporated in 2012 and is headquartered in Calgary, Canada.