Kelt Exploration (TSE:KEL) Given a C$13.00 Price Target by Scotia Analysts

Kelt Exploration (TSE:KEL) has been assigned a C$13.00 price objective by equities research analysts at Scotia in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector outperform” rating on the oil and gas exploration company’s stock. Scotia’s price objective suggests a potential upside of 48.23% from the company’s previous close.

Several other equities research analysts also recently weighed in on KEL. BMO Capital Markets increased their target price on shares of Kelt Exploration from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a research note on Friday, March 13th. Ventum Financial set a C$12.50 price target on Kelt Exploration and gave the company a “buy” rating in a research report on Tuesday, March 24th. Royal Bank Of Canada increased their price objective on Kelt Exploration from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Finally, TD Securities raised their target price on shares of Kelt Exploration from C$9.00 to C$11.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$11.42.

Kelt Exploration Stock Performance

TSE KEL remained flat at C$8.77 on Wednesday. The company’s stock had a trading volume of 253,718 shares, compared to its average volume of 612,717. The firm has a market capitalization of C$1.76 billion, a PE ratio of 39.86 and a beta of -0.20. The company’s 50-day moving average is C$9.42 and its 200-day moving average is C$8.64. The company has a debt-to-equity ratio of 12.86, a quick ratio of 0.61 and a current ratio of 0.52. Kelt Exploration has a one year low of C$5.96 and a one year high of C$10.40.

Insider Activity at Kelt Exploration

In other Kelt Exploration news, Director William Charles Guinan sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of C$10.21, for a total value of C$204,200.00. Following the sale, the director owned 1,154,459 shares of the company’s stock, valued at approximately C$11,787,026.39. This represents a 1.70% decrease in their ownership of the stock. Also, Director David John Wilson purchased 100,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was purchased at an average price of C$9.06 per share, with a total value of C$906,000.00. Following the transaction, the director owned 21,183,040 shares of the company’s stock, valued at approximately C$191,918,342.40. This represents a 0.47% increase in their ownership of the stock. Insiders sold 296,135 shares of company stock valued at $2,912,005 in the last 90 days. 15.87% of the stock is owned by corporate insiders.

Kelt Exploration Company Profile

Kelt Exploration Ltd is an oil and gas company that focuses on the exploration, development, and production of crude oil and natural gas in Canada. Assets for production are acquired through the purchase of other corporate entities or through a full-cycle exploration program. Kelt traditionally focuses its exploration activities on areas with multizone hydrocarbon potential in Canada. The company owns pipeline infrastructure in some of its core regions to help move its products to domestic markets.