Royal Bank of Canada Lowers Kelt Exploration (TSE:KEL) Price Target to C$6.00

Kelt Exploration (TSE:KEL) had its price objective trimmed by Royal Bank of Canada from C$7.00 to C$6.00 in a research note published on Friday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the oil and gas exploration company’s stock.

A number of other analysts also recently issued reports on KEL. BMO Capital Markets lowered their price target on shares of Kelt Exploration from C$7.50 to C$6.00 in a report on Friday. Raymond James lowered their price target on shares of Kelt Exploration from C$9.50 to C$7.00 in a report on Thursday, July 11th. Cormark lowered their price target on shares of Kelt Exploration from C$9.00 to C$8.00 in a report on Friday. GMP Securities lowered their price target on shares of Kelt Exploration from C$6.75 to C$6.00 in a report on Friday, June 28th. Finally, Canaccord Genuity lowered their price target on shares of Kelt Exploration from C$10.00 to C$8.00 in a report on Tuesday, July 9th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Kelt Exploration has a consensus rating of Buy and a consensus target price of C$7.05.

Shares of KEL stock traded up C$0.07 during trading hours on Friday, hitting C$3.24. The company’s stock had a trading volume of 1,637,400 shares, compared to its average volume of 984,782. The stock has a 50 day simple moving average of C$3.83. The stock has a market cap of $596.31 million and a PE ratio of 36.00. The company has a debt-to-equity ratio of 30.48, a quick ratio of 0.44 and a current ratio of 0.45. Kelt Exploration has a 12-month low of C$3.13 and a 12-month high of C$9.56.

Kelt Exploration (TSE:KEL) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas exploration company reported C$0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.03 by C$0.02. The firm had revenue of C$102.59 million for the quarter, compared to analysts’ expectations of C$106.30 million. Research analysts expect that Kelt Exploration will post 0.15 EPS for the current year.

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 northwestern Alberta and northeastern British Columbia, Canada. As of December 31, 2017, the company holds petroleum and natural gas rights in 637,823 net acres of undeveloped land.

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Analyst Recommendations for Kelt Exploration (TSE:KEL)

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