Kelt Exploration (TSE:KEL) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of Kelt Exploration Ltd. (TSE:KEL) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$6.66 and traded as high as C$6.83. Kelt Exploration shares last traded at C$6.72, with a volume of 304,915 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada raised their price target on Kelt Exploration from C$8.00 to C$8.50 and gave the company an “outperform” rating in a research note on Monday, June 30th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Kelt Exploration has a consensus rating of “Buy” and an average price target of C$9.88.

Kelt Exploration Price Performance

The company has a current ratio of 0.50, a quick ratio of 0.61 and a debt-to-equity ratio of 4.53. The company has a 50 day moving average price of C$7.18 and a 200 day moving average price of C$6.66. The company has a market capitalization of C$1.34 billion, a P/E ratio of 18.16 and a beta of 0.03.

Insider Activity at Kelt Exploration

In other news, Senior Officer Douglas Owen Macarthur sold 13,000 shares of Kelt Exploration stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of C$7.94, for a total transaction of C$103,220.00. Corporate insiders own 15.87% of the company’s stock.

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.