Brokerages Set Kelt Exploration Ltd (TSE:KEL) Price Target at C$7.05

Kelt Exploration Ltd (TSE:KEL) has received a consensus rating of “Buy” from the ten analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$7.05.

A number of research analysts have weighed in on the company. Cormark decreased their price target on Kelt Exploration from C$9.00 to C$8.00 in a research note on Friday, August 9th. CIBC dropped their price objective on Kelt Exploration from C$9.00 to C$6.50 in a research note on Thursday, July 18th. GMP Securities cut their price objective on Kelt Exploration from C$6.75 to C$6.00 in a report on Friday, June 28th. Royal Bank of Canada decreased their target price on shares of Kelt Exploration from C$7.00 to C$6.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, Raymond James reissued a “strong-buy” rating and issued a C$7.00 target price on shares of Kelt Exploration in a research note on Friday, August 9th.

Shares of Kelt Exploration stock traded up C$0.08 during trading hours on Friday, reaching C$3.16. 138,086 shares of the company’s stock were exchanged, compared to its average volume of 995,189. The stock has a market cap of $580.34 million and a P/E ratio of 31.30. The company has a 50 day moving average of C$3.16 and a two-hundred day moving average of C$4.48. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 36.75. Kelt Exploration has a fifty-two week low of C$2.45 and a fifty-two week high of C$8.65.

Kelt Exploration (TSE:KEL) last released its earnings results on Thursday, August 8th. The oil and gas exploration company reported C$0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.03 by C($0.02). The company had revenue of C$100.73 million during the quarter, compared to analyst estimates of C$117.10 million. As a group, analysts expect that Kelt Exploration will post -0.02 earnings per share for the current fiscal year.

In related news, Director David John Wilson acquired 41,100 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of C$2.88 per share, for a total transaction of C$118,368.00. Following the completion of the acquisition, the director now directly owns 11,119,090 shares in the company, valued at C$32,022,979.20. Also, Senior Officer Bruce Douglas Gigg acquired 30,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was bought at an average cost of C$2.93 per share, for a total transaction of C$87,960.00. Following the completion of the transaction, the insider now directly owns 120,419 shares of the company’s stock, valued at C$353,068.51. Insiders purchased a total of 191,100 shares of company stock valued at $526,602 over the last quarter.

Kelt Exploration Company Profile

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, 2017, the company holds petroleum and natural gas rights in 637,823 net acres of undeveloped land.

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Analyst Recommendations for Kelt Exploration (TSE:KEL)

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