Kelt Exploration (TSE:KEL) Shares Pass Above 200-Day Moving Average - Here's Why

Kelt Exploration Ltd. (TSE:KEL - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.46 and traded as high as C$7.02. Kelt Exploration shares last traded at C$6.98, with a volume of 374,712 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KEL shares. BMO Capital Markets increased their target price on Kelt Exploration from C$8.50 to C$9.00 in a research report on Friday, December 13th. CIBC lifted their price objective on shares of Kelt Exploration from C$10.00 to C$11.50 in a research note on Friday, January 17th. Scotiabank boosted their target price on shares of Kelt Exploration from C$10.50 to C$11.50 in a report on Friday, January 17th. Finally, National Bankshares 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 Thursday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of C$9.64.

Kelt Exploration Trading Up 1.3 %

The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.61 and a current ratio of 0.50. The stock has a fifty day moving average of C$6.88 and a 200-day moving average of C$6.46. The company has a market cap of C$1.38 billion, a PE ratio of 21.42 and a beta of 1.93.

Kelt Exploration (TSE:KEL - Get Free Report) last issued its earnings results on Thursday, November 7th. The oil and gas exploration company reported C$0.04 earnings per share (EPS) for the quarter. The firm had revenue of C$107.88 million during the quarter. Kelt Exploration had a net margin of 16.02% and a return on equity of 6.72%. Sell-side analysts anticipate that Kelt Exploration Ltd. will post 0.5224359 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director David John Wilson acquired 656,900 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of C$6.05 per share, for a total transaction of C$3,974,245.00. Also, Director William Charles Guinan sold 10,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of C$7.52, for a total transaction of C$75,200.00. Insiders have sold 166,270 shares of company stock worth $1,210,476 in the last three months. Corporate insiders own 15.87% of the company's stock.

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.