Kelt Exploration (OTCMKTS:KELTF) Shares Down 0.8% – Here’s What Happened

Kelt Exploration Ltd. (OTCMKTS:KELTF) shares fell 0.8% during mid-day trading on Thursday . The stock traded as low as $7.46 and last traded at $7.46. Approximately 95,471 shares changed hands during mid-day trading, an increase of 61% from the average session volume of 59,442 shares. The stock had previously closed at $7.52.

Analyst Ratings Changes

KELTF has been the topic of several recent research reports. TD Securities reiterated a “buy” rating on shares of Kelt Exploration in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Kelt Exploration in a research note on Friday, July 10th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy”.

Kelt Exploration Price Performance

The business’s 50-day simple moving average is $7.07 and its two-hundred day simple moving average is $6.80.

Kelt Exploration Company Profile

Kelt Exploration Ltd. is a Calgary-based oil and gas company engaged in the exploration, development and production of petroleum and natural gas reserves in Western Canada. Using horizontal drilling and multi-stage fracturing techniques, the company targets light oil and natural gas liquids in unconventional resource plays. Kelt’s business model emphasizes cost efficiency and disciplined capital allocation to maximize value from its asset base.

The company’s core holdings are concentrated in the Montney and Deep Basin resource plays of West Central and Northern Alberta.