Kelt Exploration (TSE:KEL) Releases Earnings Results

Kelt Exploration (TSE:KEL) issued its quarterly 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 during the quarter.

Kelt Exploration Stock Performance

TSE:KEL traded up C$0.44 during mid-day trading on Thursday, hitting C$9.75. 747,598 shares of the company traded hands, compared to its average volume of 596,555. The company has a quick ratio of 0.61, a current ratio of 0.52 and a debt-to-equity ratio of 12.86. The stock’s fifty day moving average price is C$9.45 and its 200-day moving average price is C$9.05. The firm has a market cap of C$1.97 billion, a price-to-earnings ratio of 44.32 and a beta of -0.24. Kelt Exploration has a one year low of C$5.96 and a one year high of C$10.45.

Insider Buying and Selling

In related news, Director David John Wilson acquired 100,000 shares of the stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of C$9.06 per share, with a total value of C$906,000.00. Following the transaction, the director directly owned 21,183,040 shares in the company, valued at approximately 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 stock in a transaction that occurred 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 completion of the sale, the insider directly owned 19,158 shares of the company’s stock, valued at C$194,836.86. This represents a 81.61% decrease in their ownership of the stock. Insiders sold 211,666 shares of company stock valued at $2,124,643 in the last 90 days. Corporate insiders own 15.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KEL. Royal Bank Of Canada raised their price target on Kelt Exploration from C$10.00 to C$11.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Scotia set a C$13.00 price objective on shares of Kelt Exploration and gave the stock a “sector outperform” rating in a report on Wednesday, June 24th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price 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.