Kelt Exploration Ltd (TSE:KEL) Senior Officer Acquires C$87,960.00 in Stock

Kelt Exploration Ltd (TSE:KEL) Senior Officer Bruce Douglas Gigg purchased 30,000 shares of the stock in a transaction dated Monday, August 19th. The stock was acquired at an average cost of C$2.93 per share, with a total value of C$87,960.00. Following the transaction, the insider now directly owns 120,419 shares in the company, valued at approximately C$353,068.51.

Shares of KEL traded down C$0.10 during mid-day trading on Tuesday, hitting C$2.90. The company’s stock had a trading volume of 194,181 shares, compared to its average volume of 989,888. The company’s 50-day moving average is C$3.61 and its 200-day moving average is C$4.67. Kelt Exploration Ltd has a 52-week low of C$2.59 and a 52-week high of C$9.56. The firm has a market capitalization of $539.81 million and a price-to-earnings ratio of 29.00. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 36.75.

Several brokerages have recently weighed in on KEL. Raymond James reaffirmed a “strong-buy” rating and issued a C$7.00 price target on shares of Kelt Exploration in a research report on Friday, August 9th. Cormark lowered their price target on shares of Kelt Exploration from C$9.00 to C$8.00 in a research report on Friday, August 9th. BMO Capital Markets lowered their price target on shares of Kelt Exploration from C$7.50 to C$6.00 in a research report on Friday, August 9th. Eight Capital lowered their price target on shares of Kelt Exploration from C$7.75 to C$7.00 in a research report on Friday, August 9th. Finally, Canaccord Genuity lowered their price target on shares of Kelt Exploration from C$10.00 to C$8.00 in a research report on Tuesday, July 9th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of C$7.05.

Kelt Exploration Company Profile

Kelt Exploration Ltd., an oil and gas company, engages in the exploration, development, and production of crude oil and natural gas resources primarily in northwestern Alberta and northeastern British Columbia, Canada. As of December 31, 2017, the company holds petroleum and natural gas rights in 637,823 net acres of undeveloped land.

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