Royal Bank of Canada Cuts Kelt Exploration (TSE:KEL) Price Target to C$5.00

Kelt Exploration (TSE:KEL) had its price target reduced by analysts at Royal Bank of Canada from C$6.00 to C$5.00 in a note issued to investors on Friday, BayStreet.CA reports. Royal Bank of Canada’s target price would suggest a potential upside of 68.92% from the stock’s previous close.

A number of other research analysts also recently issued reports on KEL. Cormark reduced their price target on shares of Kelt Exploration from C$9.00 to C$8.00 in a research report on Friday, August 9th. Eight Capital reduced their price target on shares of Kelt Exploration from C$7.75 to C$7.00 in a research report on Friday, August 9th. BMO Capital Markets reduced their price target on shares of Kelt Exploration from C$7.50 to C$6.00 in a research report on Friday, August 9th. Canaccord Genuity reduced their price target on shares of Kelt Exploration from C$10.00 to C$8.00 in a research report on Tuesday, July 9th. Finally, GMP Securities reduced their price target on shares of Kelt Exploration from C$6.75 to C$6.00 in a research report on Friday, June 28th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of C$6.75.

KEL stock traded down C$0.14 during mid-day trading on Friday, hitting C$2.96. 367,075 shares of the company were exchanged, compared to its average volume of 1,014,123. The company has a market capitalization of $571.13 million and a PE ratio of 29.60. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 36.75. Kelt Exploration has a twelve month low of C$2.45 and a twelve month high of C$7.03. The firm has a fifty day simple moving average of C$3.18 and a 200 day simple moving average of C$4.09.

Kelt Exploration (TSE:KEL) last announced its quarterly earnings data on Thursday, August 8th. The oil and gas exploration company reported C$0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.03 by C($0.02). The business had revenue of C$100.73 million for the quarter, compared to the consensus estimate of C$117.10 million. As a group, sell-side analysts anticipate that Kelt Exploration will post 0.0100327 earnings per share for the current year.

In other news, Director David John Wilson acquired 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average cost of C$2.88 per share, for a total transaction of C$115,300.00. Following the transaction, the director now directly owns 11,169,190 shares in the company, valued at approximately C$32,195,190.18. Also, Senior Officer Bruce Douglas Gigg acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of C$2.65 per share, for a total transaction of C$26,500.00. Following the completion of the transaction, the insider now owns 130,419 shares in the company, valued at C$345,610.35. Over the last quarter, insiders purchased 191,100 shares of company stock worth $526,602.

Kelt Exploration Company Profile

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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Analyst Recommendations for Kelt Exploration (TSE:KEL)

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