BMO Capital Markets Forecasts Strong Price Appreciation for Kelt Exploration (TSE:KEL) Stock

Kelt Exploration (TSE:KEL) had its price objective boosted by BMO Capital Markets from C$8.50 to C$9.00 in a note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 36.78% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Scotiabank raised their target price on shares of Kelt Exploration from C$10.00 to C$10.50 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. National Bankshares lowered their target price on Kelt Exploration from C$9.00 to C$8.75 in a research note on Friday, September 27th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$9.03.

Kelt Exploration Price Performance

KEL opened at C$6.58 on Friday. The stock has a market capitalization of C$1.29 billion, a PE ratio of 19.94 and a beta of 1.93. The company’s 50 day simple moving average is C$6.57 and its 200 day simple moving average is C$6.27. Kelt Exploration has a 1 year low of C$5.01 and a 1 year high of C$7.20. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.61 and a current ratio of 0.50.

Kelt Exploration (TSE:KEL) last announced its quarterly earnings results on Thursday, November 7th. The oil and gas exploration company reported C$0.04 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%. As a group, sell-side analysts expect that Kelt Exploration will post 0.5224359 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Bruce Douglas Gigg sold 10,270 shares of Kelt Exploration stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$7.15, for a total value of C$73,430.50. Also, Senior Officer Douglas Owen Macarthur sold 18,300 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of C$6.80, for a total transaction of C$124,440.00. Over the last 90 days, insiders have sold 43,270 shares of company stock worth $299,207. 15.87% of the stock is currently owned by corporate insiders.

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 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.