Kelt Exploration (TSE:KEL) Price Target Raised to C$7.00

Kelt Exploration (TSE:KEL) had its price objective lifted by equities research analysts at CIBC from C$6.50 to C$7.00 in a research note issued to investors on Thursday, BayStreet.CA reports. CIBC’s price target suggests a potential upside of 26.81% from the company’s previous close.

A number of other research firms have also recently commented on KEL. Raymond James increased their price target on Kelt Exploration from C$5.50 to C$6.00 and gave the company an “outperform” rating in a research note on Friday, November 12th. reiterated an “outperform” rating on shares of Kelt Exploration in a research note on Thursday, September 16th. Seven equities research 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$5.25.

Kelt Exploration stock opened at C$5.52 on Thursday. The stock has a 50-day moving average of C$4.78 and a two-hundred day moving average of C$4.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.50 and a current ratio of 0.52. Kelt Exploration has a one year low of C$1.74 and a one year high of C$5.65. The stock has a market cap of C$1.04 billion and a PE ratio of 12.05.

Kelt Exploration (TSE:KEL) last released its quarterly earnings results on Wednesday, November 10th. The oil and gas exploration company reported C$0.02 EPS for the quarter, missing analysts’ consensus estimates of C$0.05 by C($0.03). The business had revenue of C$75.76 million during the quarter. As a group, sell-side analysts predict that Kelt Exploration will post 0.43 EPS for the current fiscal year.

In related news, Senior Officer Douglas Jeffery Errico sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, January 11th. The stock was sold at an average price of C$5.28, for a total transaction of C$163,680.00. Following the sale, the insider now directly owns 488,772 shares of the company’s stock, valued at C$2,580,716.16. Also, Senior Officer Carolyn Van Brunschot sold 5,701 shares of the firm’s stock in a transaction dated Friday, November 12th. The stock was sold at an average price of C$5.01, for a total value of C$28,562.01. Following the sale, the insider now directly owns 15,824 shares in the company, valued at C$79,278.24.

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 northwestern Alberta and northeastern British Columbia, Canada. As of December 31, 2019, its proved plus probable reserves were 461.0 million barrels of oil equivalent.

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Analyst Recommendations for Kelt Exploration (TSE:KEL)

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