Kelt Exploration (OTCMKTS:KELTF) Trading Up 3.4% – Should You Buy?

Kelt Exploration Ltd. (OTCMKTS:KELTF)’s stock price was up 3.4% during mid-day trading on Thursday . The company traded as high as $7.74 and last traded at $7.27. Approximately 9,267 shares were traded during trading, a decline of 84% from the average daily volume of 56,733 shares. The stock had previously closed at $7.03.

Analyst Ratings Changes

KELTF has been the topic of a number of recent research reports. BMO Capital Markets reissued an “outperform” rating on shares of Kelt Exploration in a research report on Friday, May 8th. TD Securities reaffirmed a “buy” rating on shares of Kelt Exploration in a research report on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Kelt Exploration in a research note on Friday, July 10th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Kelt Exploration currently has a consensus rating of “Buy”.

Kelt Exploration Stock Performance

The firm’s 50-day simple moving average is $6.70 and its 200 day simple moving average is $6.63.

About Kelt Exploration

Kelt Exploration Ltd. is a Calgary-based oil and gas company engaged in the exploration, development and production of petroleum and natural gas reserves in Western Canada. Using horizontal drilling and multi-stage fracturing techniques, the company targets light oil and natural gas liquids in unconventional resource plays. Kelt’s business model emphasizes cost efficiency and disciplined capital allocation to maximize value from its asset base.

The company’s core holdings are concentrated in the Montney and Deep Basin resource plays of West Central and Northern Alberta.