Kelt Exploration (TSE:KEL) Releases Quarterly Earnings Results

Kelt Exploration (TSE:KEL) issued its quarterly earnings data on Thursday. The oil and gas exploration company reported C$0.09 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$132.64 million during the quarter. Kelt Exploration had a return on equity of 5.27% and a net margin of 11.69%.

Kelt Exploration Stock Performance

TSE KEL opened at C$9.07 on Thursday. The firm has a market capitalization of C$1.81 billion, a P/E ratio of 31.28 and a beta of -0.16. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 16.74. The firm’s fifty day moving average price is C$8.09 and its two-hundred day moving average price is C$7.43. Kelt Exploration has a 1 year low of C$4.90 and a 1 year high of C$9.10.

Insider Activity

In other news, insider Sadiq Lalani sold 50,000 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of C$8.05, for a total value of C$402,500.00. Following the transaction, the insider directly owned 1,845,000 shares of the company’s stock, valued at C$14,852,250. This represents a 2.64% decrease in their ownership of the stock. Also, insider Patrick William George Miles sold 94,300 shares of Kelt Exploration stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of C$8.03, for a total transaction of C$757,229.00. Following the sale, the insider directly owned 911,855 shares of the company’s stock, valued at C$7,322,195.65. The trade was a 9.37% decrease in their position. In the last ninety days, insiders have sold 224,500 shares of company stock valued at $1,808,529. 15.87% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KEL shares. Canadian Imperial Bank of Commerce boosted their price objective on shares of Kelt Exploration from C$10.50 to C$11.00 in a research report on Friday, November 14th. TD Securities set a C$9.50 target price on Kelt Exploration and gave the company a “buy” rating in a research report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Kelt Exploration currently has a consensus rating of “Buy” and an average target price of C$9.63.

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.