Insider Selling: Kelt Exploration (TSE:KEL) Insider Sells 85,000 Shares of Stock

Kelt Exploration Ltd. (TSE:KEL) insider Alan Franks sold 85,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of C$10.17, for a total value of C$864,450.00. Following the completion of the transaction, the insider directly owned 19,158 shares in the company, valued at C$194,836.86. This trade represents a 81.61% decrease in their position.

Kelt Exploration Stock Performance

Shares of TSE:KEL traded up C$0.28 during mid-day trading on Monday, reaching C$10.00. 167,713 shares of the company traded hands, compared to its average volume of 613,644. The company’s 50 day moving average price is C$9.33 and its 200-day moving average price is C$8.49. The firm has a market cap of C$2.02 billion, a PE ratio of 45.45 and a beta of -0.20. Kelt Exploration Ltd. has a 52 week low of C$5.96 and a 52 week high of C$10.40. The company has a debt-to-equity ratio of 12.86, a current ratio of 0.52 and a quick ratio of 0.61.

Kelt Exploration (TSE:KEL) last issued its quarterly earnings results on Thursday, March 12th. The oil and gas exploration company reported C$0.09 earnings per share for the quarter. The business had revenue of C$132.64 million for the quarter. Kelt Exploration had a net margin of 8.73% and a return on equity of 3.96%. On average, equities analysts expect that Kelt Exploration Ltd. will post 0.5224359 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Ventum Financial set a C$12.50 price target on Kelt Exploration and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Royal Bank Of Canada increased their price objective on shares of Kelt Exploration from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. TD Securities upped their target price on Kelt Exploration from C$9.00 to C$11.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, BMO Capital Markets increased their target price on Kelt Exploration from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a research note on Friday, March 13th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$11.10.

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. The company owns pipeline infrastructure in some of its core regions to help move its products to domestic markets.