Royal Bank of Canada Trims Kelt Exploration Ltd (KEL) Target Price to C$9.00

Kelt Exploration Ltd (TSE:KEL) had its target price dropped by equities researchers at Royal Bank of Canada from C$10.00 to C$9.00 in a research report issued to clients and investors on Thursday, May 11th. The firm presently has an “outperform” rating on the oil and gas exploration company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 51.52% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on KEL. Raymond James Financial, Inc. reaffirmed a “strong-buy” rating and set a C$10.00 target price on shares of Kelt Exploration in a research note on Thursday, January 19th. Scotiabank reaffirmed an “outperform” rating and set a C$8.50 target price on shares of Kelt Exploration in a research note on Thursday, January 19th. CIBC lifted their price target on Kelt Exploration from C$6.50 to C$7.00 in a report on Wednesday, January 25th. Finally, TD Securities lifted their price target on Kelt Exploration from C$9.50 to C$10.50 and gave the stock an “action list buy” rating in a report on Monday, February 13th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of C$8.15.

Analyst Recommendations for Kelt Exploration (TSE:KEL)

Shares of Kelt Exploration (TSE:KEL) opened at 5.94 on Thursday. The stock’s market capitalization is $1.04 billion. Kelt Exploration has a 1-year low of $4.22 and a 1-year high of $7.70. The firm has a 50-day moving average of $6.62 and a 200 day moving average of $6.59.

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In other news, insider David John Wilson bought 18,900 shares of the company’s stock in a transaction on Tuesday, March 28th. The stock was bought at an average cost of C$6.19 per share, with a total value of C$116,991.00. Also, insider Sadiq Lalani bought 4,600 shares of the company’s stock in a transaction on Thursday, March 23rd. The stock was purchased at an average cost of C$5.88 per share, with a total value of C$27,048.00. Over the last 90 days, insiders purchased 26,529 shares of company stock worth $162,062.

Kelt Exploration Company Profile

Kelt Exploration Ltd. is an oil and gas company based in Calgary, Alberta. The Company is focused on the exploration, development and production of crude oil and natural gas resources, primarily in west central Alberta and northeastern British Columbia. The Company’s land holdings are located in Inga/Fireweed/Stoddart, British Columbia; Grande Prairie (including Pouce Coupe, Progress, Spirit River and La Glace), Alberta; Karr, Alberta, and Grande Cache, Alberta.

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