Kelt Exploration (OTCMKTS:KELTF) Trading Up 3.4% – Here’s Why

Kelt Exploration Ltd. (OTCMKTS:KELTF) was up 3.4% on Thursday . The company traded as high as $7.74 and last traded at $7.27. Approximately 9,267 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 56,733 shares. The stock had previously closed at $7.03.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KELTF shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Kelt Exploration in a report on Friday, July 10th. BMO Capital Markets restated an “outperform” rating on shares of Kelt Exploration in a report on Friday, May 8th. Finally, TD Securities reaffirmed a “buy” rating on shares of Kelt Exploration in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy”.

Kelt Exploration Trading Up 3.4%

The stock’s fifty day simple moving average is $6.70 and its 200-day simple moving average is $6.63.

Kelt Exploration Company Profile

Kelt Exploration Ltd. is a Calgary-based oil and gas company engaged in the exploration, development and production of petroleum and natural gas reserves in Western Canada. Using horizontal drilling and multi-stage fracturing techniques, the company targets light oil and natural gas liquids in unconventional resource plays. Kelt’s business model emphasizes cost efficiency and disciplined capital allocation to maximize value from its asset base.

The company’s core holdings are concentrated in the Montney and Deep Basin resource plays of West Central and Northern Alberta.