Kelt Exploration (TSE:KEL) Issues Quarterly Earnings Results

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

Kelt Exploration Stock Performance

TSE KEL opened at C$9.65 on Friday. The firm has a market cap of C$1.95 billion, a P/E ratio of 43.86 and a beta of -0.24. Kelt Exploration has a 52-week low of C$5.96 and a 52-week high of C$10.45. The business’s 50-day moving average price is C$9.46 and its 200 day moving average price is C$9.07. The company has a quick ratio of 0.61, a current ratio of 0.52 and a debt-to-equity ratio of 12.86.

Insider Buying and Selling

In other Kelt Exploration news, Director David John Wilson purchased 100,000 shares of Kelt Exploration stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of C$9.06 per share, with a total value of C$906,000.00. Following the acquisition, the director directly owned 21,183,040 shares of the company’s stock, valued at C$191,918,342.40. This represents a 0.47% increase in their ownership of the stock. Also, insider Alan G. Franks sold 85,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$10.17, for a total transaction of C$864,450.00. Following the sale, the insider owned 19,158 shares in the company, valued at C$194,836.86. The trade was a 81.61% decrease in their ownership of the stock. Insiders have sold 211,666 shares of company stock worth $2,124,643 over the last three months. 15.87% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KEL has been the subject of a number of research analyst reports. Scotia set a C$13.00 target price on Kelt Exploration and gave the company a “sector outperform” rating in a report on Wednesday, June 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 stock 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 company presently has an average rating of “Buy” and an average price target of C$11.42.

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.