Kelt Exploration (TSE:KEL) Given New C$11.50 Price Target at CIBC

Kelt Exploration (TSE:KEL) had its target price hoisted by equities research analysts at CIBC from C$10.00 to C$11.50 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective points to a potential upside of 59.72% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Scotiabank lifted their price objective on Kelt Exploration from C$10.50 to C$11.50 in a research report on Friday. BMO Capital Markets lifted their price objective on Kelt Exploration from C$8.50 to C$9.00 in a research report on Friday, December 13th. Finally, National Bankshares lifted their price objective on Kelt Exploration from C$8.75 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$9.38.

Kelt Exploration Price Performance

Shares of TSE KEL traded up C$0.10 during midday trading on Friday, hitting C$7.20. The stock had a trading volume of 799,047 shares, compared to its average volume of 353,503. The company has a market capitalization of C$1.41 billion, a PE ratio of 21.82 and a beta of 1.93. The stock has a 50 day simple moving average of C$6.75 and a 200-day simple moving average of C$6.40. Kelt Exploration has a 1 year low of C$5.01 and a 1 year high of C$7.59. 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 released its earnings results on Thursday, November 7th. The oil and gas exploration company reported C$0.04 earnings per share for the quarter. The business 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, sell-side analysts expect that Kelt Exploration will post 0.5224359 EPS for the current fiscal year.

Insider Activity

In other news, Director David John Wilson acquired 656,900 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of C$6.05 per share, with a total value of C$3,974,245.00. Also, Senior Officer Douglas Owen Macarthur sold 4,700 shares of Kelt Exploration stock in a transaction on Monday, November 18th. The shares were sold at an average price of C$6.88, for a total value of C$32,336.00. Over the last ninety days, insiders sold 108,270 shares of company stock valued at $785,357. 15.87% of the stock is currently owned by corporate insiders.

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.