CIBC Lowers Kelt Exploration (TSE:KEL) Price Target to C$10.75

Kelt Exploration (TSE:KEL) had its price objective dropped by CIBC from C$11.50 to C$10.75 in a report issued on Thursday,BayStreet.CA reports. CIBC’s price objective points to a potential upside of 106.73% from the company’s previous close.

KEL has been the subject of several other reports. Scotiabank lifted their target price on Kelt Exploration from C$10.50 to C$11.50 in a report on Friday, January 17th. Raymond James set a C$9.50 price objective on Kelt Exploration and gave the stock an “outperform” rating in a report on Tuesday. National Bankshares raised their target price on shares of Kelt Exploration from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets upped their price target on shares of Kelt Exploration from C$8.50 to C$9.00 in a research report on Friday, December 13th.

Kelt Exploration Price Performance

Shares of TSE KEL traded down C$0.47 during midday trading on Thursday, reaching C$5.20. The company’s stock had a trading volume of 258,487 shares, compared to its average volume of 439,727. The company has a market cap of C$1.03 billion, a price-to-earnings ratio of 18.43 and a beta of 1.93. Kelt Exploration has a one year low of C$4.90 and a one year high of C$7.59. The company has a current ratio of 0.50, a quick ratio of 0.61 and a debt-to-equity ratio of 4.53. The company has a 50 day moving average price of C$6.41 and a 200 day moving average price of C$6.60.

Insiders Place Their Bets

In other news, Director Michael Shea sold 30,000 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of C$6.75, for a total transaction of C$202,500.00. Also, Senior Officer Bruce Douglas Gigg sold 14,630 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of C$6.75, for a total transaction of C$98,752.50. Insiders sold a total of 188,856 shares of company stock worth $1,301,488 in the last quarter. 15.87% of the stock is currently owned by corporate insiders.

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 Western Canada. The company markets its crude oil and natural gas liquids primarily to third party. Kelt Exploration Ltd. was incorporated in 2012 and is headquartered in Calgary, Canada.