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

Kelt Exploration (TSE:KEL) had its price objective increased by investment analysts at CIBC from C$10.00 to C$11.50 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 59.72% from the stock’s current price.

Several other analysts also recently weighed in on the company. BMO Capital Markets boosted their target price on Kelt Exploration from C$8.50 to C$9.00 in a report on Friday, December 13th. Scotiabank upped their price objective on Kelt Exploration from C$10.50 to C$11.50 in a research note on Friday. Finally, National Bankshares upped their price objective on Kelt Exploration from C$8.75 to C$9.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$9.38.

Kelt Exploration Stock Up 1.4 %

KEL traded up C$0.10 on Friday, hitting C$7.20. 799,047 shares of the company were exchanged, compared to its average volume of 353,503. The company has a market cap of C$1.41 billion, a price-to-earnings ratio of 21.82 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. The firm 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 twelve month low of C$5.01 and a twelve month high of C$7.59.

Kelt Exploration (TSE:KEL) last announced its quarterly earnings results on Thursday, November 7th. The oil and gas exploration company reported C$0.04 earnings per share (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%. On average, equities analysts predict that Kelt Exploration will post 0.5224359 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director William Charles Guinan sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of C$7.52, for a total value of C$75,200.00. Also, Senior Officer Douglas Owen Macarthur sold 18,300 shares of the company’s stock in a transaction that occurred 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 90 days, insiders have sold 108,270 shares of company stock worth $785,357. 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.