Kelt Exploration (TSE:KEL – Get Free Report) received a C$13.00 target price from investment analysts at Scotia in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector outperform” rating on the oil and gas exploration company’s stock. Scotia’s price target suggests a potential upside of 48.23% from the company’s current price.
A number of other equities analysts have also recently weighed in on the company. BMO Capital Markets increased their price target on Kelt Exploration from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a report on Friday, March 13th. TD Securities upped their target price on shares of Kelt Exploration from C$9.00 to C$11.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Royal Bank Of Canada raised their price target on 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. Finally, Ventum Financial set a C$12.50 price objective on Kelt Exploration and gave the company a “buy” rating in a research note on Tuesday, March 24th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$11.42.
Read Our Latest Stock Analysis on KEL
Kelt Exploration Stock Performance
Insider Activity
In related news, Director David John Wilson purchased 100,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were bought at an average price of C$9.06 per share, for a total transaction of C$906,000.00. Following the acquisition, the director directly owned 21,183,040 shares in the company, valued at C$191,918,342.40. This trade represents a 0.47% increase in their ownership of the stock. Also, insider David A. Gillis sold 3,853 shares of Kelt Exploration stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of C$8.84, for a total transaction of C$34,060.52. Following the completion of the transaction, the insider owned 78,821 shares of the company’s stock, valued at C$696,777.64. This represents a 4.66% decrease in their position. Insiders sold a total of 296,135 shares of company stock worth $2,912,005 over the last three months. Company insiders own 15.87% of the company’s stock.
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.
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