ATB Capital Lowers Kelt Exploration (TSE:KEL) Price Target to C$8.50

Kelt Exploration (TSE:KEL) had its price objective cut by ATB Capital from C$9.00 to C$8.50 in a research report report published on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the oil and gas exploration company’s stock.

Several other research firms have also recently weighed in on KEL. CIBC dropped their price target on shares of Kelt Exploration from C$9.00 to C$8.00 and set an outperform rating for the company in a research note on Tuesday, January 16th. TD Securities increased their price objective on shares of Kelt Exploration from C$7.00 to C$7.50 and gave the company a hold rating in a research report on Friday, February 23rd. Raymond James dropped their price objective on shares of Kelt Exploration from C$9.00 to C$8.50 and set an outperform rating on the stock in a research report on Friday, January 19th. Finally, National Bankshares dropped their target price on shares of Kelt Exploration from C$8.75 to C$7.50 and set an outperform rating on the stock in a research report on Wednesday, January 10th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of C$8.50.

Kelt Exploration Stock Up 0.5 %

Shares of TSE KEL opened at C$5.89 on Wednesday. Kelt Exploration has a 12-month low of C$4.37 and a 12-month high of C$8.16. The stock has a market cap of C$1.15 billion, a PE ratio of 13.39 and a beta of 2.10. The company has a current ratio of 0.83, a quick ratio of 0.61 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of C$5.66 and a 200 day moving average of C$6.39.

Insiders Place Their Bets

In other news, Senior Officer Douglas Jeffery Errico sold 40,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$6.03, for a total value of C$241,200.00. In the last three months, insiders have sold 43,226 shares of company stock valued at $260,102. Insiders own 15.94% 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.