Scotiabank Forecasts Strong Price Appreciation for Kelt Exploration (TSE:KEL) Stock

Kelt Exploration (TSE:KEL) had its price objective boosted by investment analysts at Scotiabank from C$10.50 to C$11.50 in a research note issued on Friday,BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 59.72% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Kelt Exploration from C$8.50 to C$9.00 in a report on Friday, December 13th. National Bankshares increased their price target on shares of Kelt Exploration from C$8.75 to C$9.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Kelt Exploration has a consensus rating of “Buy” and a consensus target price of C$9.38.

Kelt Exploration Stock Up 1.4 %

KEL traded up C$0.10 during mid-day trading on Friday, reaching C$7.20. 799,047 shares of the stock were exchanged, compared to its average volume of 353,503. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.61 and a current ratio of 0.50. The stock has a market capitalization of C$1.41 billion, a PE ratio of 21.82 and a beta of 1.93. The company has a 50 day moving average price of C$6.75 and a two-hundred day moving average price of C$6.40. Kelt Exploration has a 1 year low of C$5.01 and a 1 year high of C$7.59.

Kelt Exploration (TSE:KEL) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas exploration company reported C$0.04 earnings per share (EPS) for the quarter. The firm had revenue of C$107.88 million for the quarter. Kelt Exploration had a net margin of 16.02% and a return on equity of 6.72%. As a group, research analysts anticipate that Kelt Exploration will post 0.5224359 EPS for the current year.

Insider Buying and Selling at Kelt Exploration

In other news, Senior Officer Douglas Owen Macarthur sold 18,300 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of C$6.80, for a total value of C$124,440.00. Also, Director David John Wilson purchased 656,900 shares of the stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average cost of C$6.05 per share, for a total transaction of C$3,974,245.00. Insiders have sold a total of 108,270 shares of company stock valued at $785,357 over the last three months. 15.87% of the stock is currently owned by insiders.

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 Western Canada. The company markets its crude oil and natural gas liquids primarily to third party. Kelt Exploration Ltd. was incorporated in 2012 and is headquartered in Calgary, Canada.