Kelt Exploration (OTCMKTS:KELTF) Shares Down 0.8% – What’s Next?

Kelt Exploration Ltd. (OTCMKTS:KELTF)’s stock price traded down 0.8% during mid-day trading on Thursday . The stock traded as low as $7.46 and last traded at $7.46. Approximately 95,471 shares changed hands during mid-day trading, an increase of 61% from the average session volume of 59,442 shares. The stock had previously closed at $7.52.

Analysts Set New Price Targets

KELTF has been the topic of a number of recent analyst reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Kelt Exploration in a research note on Friday, July 10th. TD Securities reissued a “buy” rating on shares of Kelt Exploration in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Kelt Exploration Stock Up 2.8%

The firm’s 50-day moving average is $7.10 and its 200 day moving average is $6.80.

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.