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

Kelt Exploration Ltd. (TSE:KEL)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KEL shares. Scotiabank raised their target price on Kelt Exploration from C$10.50 to C$11.50 in a research report on Friday, January 17th. CIBC raised their target price on Kelt Exploration from C$10.00 to C$11.50 in a research report on Friday, January 17th. BMO Capital Markets raised their target price on Kelt Exploration from C$8.50 to C$9.00 in a research report on Friday, December 13th. Finally, National Bankshares raised their price target on Kelt Exploration from C$8.75 to C$9.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$9.50.

Kelt Exploration Price Performance

The stock has a fifty day moving average of C$6.88 and a two-hundred day moving average of C$6.46. The stock has a market capitalization of C$1.37 billion, a price-to-earnings ratio of 21.15 and a beta of 1.93. The company has a current ratio of 0.50, a quick ratio of 0.61 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 EPS for the quarter. The company had revenue of C$107.88 million during the quarter. Kelt Exploration had a return on equity of 6.72% and a net margin of 16.02%. As a group, equities research analysts forecast that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current year.

Insider Activity

In related news, Senior Officer Patrick William George Miles sold 48,000 shares of Kelt Exploration stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of C$7.35, for a total transaction of C$352,876.80. Also, Senior Officer Douglas Owen Macarthur sold 18,300 shares of Kelt Exploration stock in a transaction on Friday, November 15th. The stock was sold at an average price of C$6.80, for a total value of C$124,440.00. In the last ninety days, insiders sold 166,270 shares of company stock valued at $1,210,476. Company 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.