Kelt Exploration (TSE:KEL) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Kelt Exploration Ltd. (TSE:KEL) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$6.46 and traded as high as C$7.02. Kelt Exploration shares last traded at C$6.98, with a volume of 374,712 shares.

Wall Street Analyst Weigh In

KEL has been the topic of several recent analyst reports. Scotiabank lifted their target price on Kelt Exploration from C$10.50 to C$11.50 in a report on Friday, January 17th. National Bankshares lifted their target price on Kelt Exploration from C$8.75 to C$9.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. BMO Capital Markets lifted their target price on Kelt Exploration from C$8.50 to C$9.00 in a report on Friday, December 13th. Finally, CIBC lifted their target price on Kelt Exploration from C$10.00 to C$11.50 in a report on Friday, January 17th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$9.50.

Kelt Exploration Trading Up 0.1 %

The company has a market capitalization of C$1.37 billion, a P/E ratio of 21.15 and a beta of 1.93. The business has a fifty day moving average price of C$6.88 and a 200 day moving average price of C$6.46. The company has a quick ratio of 0.61, a current ratio of 0.50 and a debt-to-equity ratio of 1.43.

Kelt Exploration (TSE:KEL) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas exploration company reported C$0.04 EPS for the quarter. The company had revenue of C$107.88 million for the quarter. Kelt Exploration had a return on equity of 6.72% and a net margin of 16.02%. On average, analysts expect that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current fiscal year.

Insider Activity

In related news, Senior Officer Bruce Douglas Gigg sold 10,270 shares of Kelt Exploration stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$7.15, for a total value of C$73,430.50. Also, Senior Officer Patrick William George Miles sold 48,000 shares of Kelt Exploration stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of C$7.35, for a total value of C$352,876.80. Insiders have sold a total of 166,270 shares of company stock worth $1,210,476 over the last three months. Corporate insiders own 15.87% of the company’s stock.

About Kelt Exploration

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.