Kelt Exploration (TSE:KEL) Releases Quarterly Earnings Results

Kelt Exploration (TSE:KEL) released its quarterly earnings data on Thursday. The oil and gas exploration company reported C$0.22 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$193.42 million for the quarter. Kelt Exploration had a net margin of 8.73% and a return on equity of 3.96%.

Kelt Exploration Stock Down 2.8%

TSE KEL traded down C$0.27 during trading on Friday, reaching C$9.48. 697,057 shares of the company’s stock were exchanged, compared to its average volume of 597,221. The company has a current ratio of 0.52, a quick ratio of 0.61 and a debt-to-equity ratio of 12.86. Kelt Exploration has a fifty-two week low of C$5.96 and a fifty-two week high of C$10.45. The company’s fifty day simple moving average is C$9.47 and its 200-day simple moving average is C$9.07. The firm has a market capitalization of C$1.92 billion, a PE ratio of 43.09 and a beta of -0.24.

Wall Street Analyst Weigh In

Several research firms recently commented on KEL. Scotia set a C$13.00 target price on Kelt Exploration and gave the company a “sector outperform” rating in a research report on Wednesday, June 24th. Royal Bank Of Canada raised their price objective on shares of Kelt Exploration from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$11.42.

Insider Activity at Kelt Exploration

In related news, insider Patrick William George Miles sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$9.90, for a total transaction of C$495,000.00. Following the transaction, the insider directly owned 911,855 shares of the company’s stock, valued at approximately C$9,027,364.50. The trade was a 5.20% decrease in their ownership of the stock. Also, Director David John Wilson bought 100,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was bought 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 in the company, valued at approximately C$191,918,342.40. This represents a 0.47% increase in their ownership of the stock. In the last three months, insiders have sold 211,666 shares of company stock valued at $2,124,643. 15.87% of the stock is owned by company insiders.

About Kelt Exploration

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.