Kelt Exploration (TSE:KEL) Stock Price Expected to Rise, CIBC Analyst Says

Kelt Exploration (TSE:KEL) had its price objective upped by stock analysts at CIBC from C$10.50 to C$11.00 in a report released on Friday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 45.89% from the stock’s previous close.

Kelt Exploration Trading Down 2.1%

Shares of TSE KEL traded down C$0.16 during trading on Friday, reaching C$7.54. The stock had a trading volume of 364,751 shares, compared to its average volume of 415,561. The business’s 50-day moving average price is C$6.82 and its 200-day moving average price is C$6.89. Kelt Exploration has a fifty-two week low of C$4.90 and a fifty-two week high of C$8.22. The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.61 and a current ratio of 0.50. The company has a market cap of C$1.50 billion, a P/E ratio of 20.38 and a beta of -0.46.

Kelt Exploration (TSE:KEL) last announced its quarterly earnings data on Thursday, November 13th. The oil and gas exploration company reported C($0.04) earnings per share for the quarter. The business had revenue of C$100.14 million during the quarter. Kelt Exploration had a net margin of 13.12% and a return on equity of 5.40%. On average, equities research analysts predict that Kelt Exploration will post 0.5224359 EPS for the current fiscal year.

Insider Activity

In other news, Director Raymond Kwan acquired 49,305 shares of the company’s stock in a transaction on Monday, August 18th. The shares were bought at an average cost of C$6.65 per share, with a total value of C$327,878.25. Following the transaction, the director owned 105,755 shares in the company, valued at approximately C$703,270.75. This trade represents a 87.34% increase in their position. Also, insider Louise Lee sold 7,776 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of C$6.03, for a total transaction of C$46,889.28. Following the completion of the sale, the insider owned 21,802 shares in the company, valued at C$131,466.06. The trade was a 26.29% decrease in their ownership of the stock. Company 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.