Kelt Exploration (TSE:KEL) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of Kelt Exploration Ltd. (TSE:KEL) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.14 and traded as high as C$6.29. Kelt Exploration shares last traded at C$6.27, with a volume of 209,183 shares traded.

Wall Street Analyst Weigh In

KEL has been the topic of a number of recent research reports. Scotiabank lifted their target price on Kelt Exploration from C$10.00 to C$10.50 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. CIBC lifted their price objective on shares of Kelt Exploration from C$8.50 to C$10.00 in a report on Monday, July 15th. Finally, National Bankshares reduced their target price on shares of Kelt Exploration from C$9.00 to C$8.75 in a report on Friday, September 27th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$8.97.

Kelt Exploration Trading Up 3.1 %

The company has a market cap of C$1.30 billion, a P/E ratio of 20.18 and a beta of 1.93. The company has a current ratio of 0.50, a quick ratio of 0.61 and a debt-to-equity ratio of 1.43. The business has a 50 day moving average price of C$6.29 and a 200-day moving average price of C$6.14.

Kelt Exploration (TSE:KEL) last posted its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported C$0.05 earnings per share (EPS) for the quarter. The firm had revenue of C$109.09 million for the quarter. Kelt Exploration had a net margin of 16.02% and a return on equity of 6.72%. Analysts forecast that Kelt Exploration Ltd. will post 0.5224359 earnings per share for the current fiscal year.

Insider Activity

In related news, Senior Officer Douglas Owen Macarthur sold 30,000 shares of Kelt Exploration stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$6.12, for a total transaction of C$183,600.00. 15.87% of the stock is owned by insiders.

About Kelt Exploration

Kelt Exploration Ltd., an oil and gas company, engages in the exploration, development, and production of crude oil and natural gas resources primarily in Western Canada. The company markets its crude oil and natural gas liquids primarily to third party. Kelt Exploration Ltd. was incorporated in 2012 and is headquartered in Calgary, Canada.