Royal Bank Of Canada Issues Positive Forecast for Kelt Exploration (TSE:KEL) Stock Price

Kelt Exploration (TSE:KEL) had its target price lifted by Royal Bank Of Canada from C$8.50 to C$10.00 in a research note published on Friday morning,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the oil and gas exploration company’s stock.

A number of other equities analysts have also recently weighed in on KEL. TD Securities increased their price objective on shares of Kelt Exploration from C$9.00 to C$11.00 and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets upped their price target on Kelt Exploration from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Canadian Imperial Bank of Commerce raised their price target on Kelt Exploration from C$10.50 to C$11.00 in a research report on Friday, November 14th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Kelt Exploration has a consensus rating of “Buy” and a consensus target price of C$10.30.

Kelt Exploration Trading Up 3.2%

TSE KEL opened at C$9.35 on Friday. The firm’s 50-day moving average is C$8.15 and its two-hundred day moving average is C$7.46. Kelt Exploration has a 12 month low of C$4.90 and a 12 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 stock has a market capitalization of C$1.86 billion, a P/E ratio of 32.24 and a beta of -0.16.

Kelt Exploration (TSE:KEL) last announced its earnings results on Thursday, March 12th. The oil and gas exploration company reported C$0.09 earnings per share for the quarter. Kelt Exploration had a net margin of 11.69% and a return on equity of 5.27%. The company had revenue of C$132.64 million during the quarter. On average, sell-side analysts anticipate that Kelt Exploration will post 0.5224359 earnings per share for the current year.

Insider Transactions at Kelt Exploration

In other news, 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 value of C$647,200.00. Following the completion of the transaction, the insider owned 224,574 shares of the company’s stock, valued at approximately C$1,816,803.66. This trade represents a 26.27% decrease in their ownership of the stock. Also, insider Patrick William George Miles sold 94,300 shares of Kelt Exploration stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$8.03, for a total transaction of C$757,229.00. Following the completion of the transaction, the insider owned 911,855 shares of the company’s stock, valued at C$7,322,195.65. This trade represents a 9.37% decrease in their position. Over the last quarter, insiders have sold 224,500 shares of company stock valued at $1,808,529. 15.87% of the stock is currently owned by corporate insiders.

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.