Kelt Exploration (TSE:KEL) Releases Quarterly Earnings Results

Kelt Exploration (TSE:KEL) announced its quarterly earnings results on Friday. The oil and gas exploration company reported C$0.13 EPS for the quarter, FiscalAI reports. Kelt Exploration had a return on equity of 4.95% and a net margin of 9.66%. The business had revenue of C$172.19 million for the quarter.

Kelt Exploration Trading Up 10.7%

TSE:KEL traded up C$1.13 during trading hours on Friday, hitting C$11.69. 1,367,828 shares of the stock were exchanged, compared to its average volume of 661,281. The company’s 50 day moving average is C$10.86 and its two-hundred day moving average is C$9.65. Kelt Exploration has a twelve month low of C$7.04 and a twelve month high of C$12.03. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 15.69. The company has a market capitalization of C$2.35 billion, a P/E ratio of 43.30 and a beta of 0.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. National Bank Financial set a C$13.25 target price on shares of Kelt Exploration and gave the stock an “outperform” rating in a research report on Wednesday, September 30th. Royal Bank Of Canada lifted their price target on shares of Kelt Exploration from C$11.00 to C$13.00 and gave the company an “outperform” rating in a report on Wednesday, October 21st. Six equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$11.96.

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.