Kelt Exploration Ltd (TSE:KEL) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.20 and traded as low as $2.89. Kelt Exploration shares last traded at $2.90, with a volume of 145,555 shares trading hands.
Several brokerages have recently commented on KEL. Cormark reduced their target price on Kelt Exploration from C$9.00 to C$8.00 in a research note on Friday, August 9th. GMP Securities cut their price target on Kelt Exploration from C$6.75 to C$6.00 in a research note on Friday, June 28th. Canaccord Genuity cut their price target on Kelt Exploration from C$10.00 to C$8.00 in a research note on Tuesday, July 9th. BMO Capital Markets cut their price target on Kelt Exploration from C$7.50 to C$6.00 in a research note on Friday, August 9th. Finally, CIBC cut their price target on Kelt Exploration from C$9.00 to C$6.50 in a research note on Thursday, July 18th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of C$6.95.
The business has a 50 day moving average price of C$3.11 and a two-hundred day moving average price of C$4.20. The stock has a market cap of $534.28 million and a PE ratio of 29.30. The company has a debt-to-equity ratio of 36.75, a quick ratio of 0.42 and a current ratio of 0.44.
Kelt Exploration (TSE:KEL) last announced its earnings results on Thursday, August 8th. The oil and gas exploration company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.03 by C($0.02). The firm had revenue of C$100.73 million during the quarter, compared to analysts’ expectations of C$117.10 million. As a group, research analysts anticipate that Kelt Exploration Ltd will post 0.03 earnings per share for the current year.
In related news, Senior Officer Bruce Douglas Gigg purchased 30,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were bought at an average price of C$2.93 per share, with a total value of C$87,960.00. Following the acquisition, the insider now owns 120,419 shares of the company’s stock, valued at approximately C$353,068.51. Also, Director David John Wilson purchased 45,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of C$2.49 per share, for a total transaction of C$112,000.50. Following the acquisition, the director now directly owns 11,254,190 shares in the company, valued at approximately C$28,010,553.49. Insiders bought a total of 191,100 shares of company stock worth $526,602 in the last 90 days.
Kelt Exploration Company Profile (TSE:KEL)
Kelt Exploration Ltd., an oil and gas company, engages in the exploration, development, and production of crude oil and natural gas resources primarily in northwestern Alberta and northeastern British Columbia, Canada. As of December 31, 2017, the company holds petroleum and natural gas rights in 637,823 net acres of undeveloped land.
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