Key Points
- Insider selling: Kelt Exploration insider Alan Franks sold 85,000 shares on June 3 at an average price of C$10.17, totaling C$864,450. After the sale, his holdings dropped by more than 81% to 19,158 shares.
- Stock performance: Kelt Exploration shares were up 2.8% and opened at C$9.99, trading near their 52-week high of C$10.40. The company has a market value of about C$2.01 billion.
- Analyst outlook: Despite the insider sale, analysts remain upbeat, with four Buy ratings and a consensus price target of C$11.10. Recent reports from several firms also raised their targets or reiterated positive ratings.
Kelt Exploration Ltd. (TSE:KEL - Get Free Report) insider Alan Franks sold 85,000 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of C$10.17, for a total transaction of C$864,450.00. Following the completion of the sale, the insider owned 19,158 shares of the company's stock, valued at C$194,836.86. This trade represents a 81.61% decrease in their ownership of the stock.
Kelt Exploration Trading Up 2.8%
Shares of TSE:KEL opened at C$9.99 on Tuesday. Kelt Exploration Ltd. has a 52-week low of C$5.96 and a 52-week high of C$10.40. The company has a market capitalization of C$2.01 billion, a P/E ratio of 45.41 and a beta of -0.20. The company has a 50-day simple moving average of C$9.34 and a 200 day simple moving average of C$8.50. 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 (TSE:KEL - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The oil and gas exploration company reported C$0.09 earnings per share for the quarter. The firm had revenue of C$132.64 million for the quarter. Kelt Exploration had a net margin of 8.73% and a return on equity of 3.96%. Sell-side analysts forecast that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current year.
Analyst Ratings Changes
KEL has been the topic of several research analyst reports. Ventum Financial set a C$12.50 price target on shares of Kelt Exploration and gave the company a "buy" rating in a report on Tuesday, March 24th. Royal Bank Of Canada increased their price target on shares of Kelt Exploration from C$10.00 to C$11.00 and gave the company an "outperform" rating in a report on Monday, April 13th. BMO Capital Markets increased their price target on shares of Kelt Exploration from C$9.00 to C$10.00 and gave the company an "outperform" rating in a report on Friday, March 13th. Finally, TD Securities increased their price target on shares of Kelt Exploration from C$9.00 to C$11.00 and gave the company a "buy" rating in a report on Friday, March 13th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$11.10.
Get Our Latest Stock Analysis on KEL
About Kelt Exploration
(
Get Free Report)
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.
Further Reading
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