Kelt Exploration (OTCMKTS:KELTF) Shares Down 2.6% – Here’s What Happened

Kelt Exploration Ltd. (OTCMKTS:KELTF)’s share price dropped 2.6% on Thursday. The company traded as low as $7.15 and last traded at $7.1720. 52,696 shares changed hands during trading, a decline of 12% from the average daily volume of 60,007 shares. The stock had previously closed at $7.36.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Raymond James Financial reiterated an “outperform” rating on shares of Kelt Exploration in a report on Wednesday, September 16th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Kelt Exploration in a report on Friday, July 10th. Finally, TD Securities reaffirmed a “buy” rating on shares of Kelt Exploration in a research report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Kelt Exploration Trading Down 2.6%

The business’s fifty day simple moving average is $7.34 and its two-hundred day simple moving average is $6.93.

About Kelt Exploration

Kelt Exploration Ltd. is a Canadian oil and natural gas exploration and production company focused on developing petroleum and natural gas resources in the Western Canadian Sedimentary Basin. Its operations are concentrated in Alberta and British Columbia, where it targets conventional and unconventional formations, including liquids-rich natural gas and crude oil opportunities.

The company’s activities include acquiring, exploring, drilling, developing and producing oil, natural gas and natural gas liquids.