Cormark Brokers Increase Earnings Estimates for Kelt Exploration Ltd (TSE:KEL)

Kelt Exploration Ltd (TSE:KEL) – Cormark upped their Q4 2019 earnings per share estimates for shares of Kelt Exploration in a report released on Monday, November 11th. Cormark analyst G. Ursu now expects that the oil and gas exploration company will post earnings per share of $0.04 for the quarter, up from their previous estimate of $0.01. Cormark also issued estimates for Kelt Exploration’s Q2 2020 earnings at $0.02 EPS and FY2021 earnings at ($0.01) EPS.

Several other brokerages also recently weighed in on KEL. National Bank Financial lowered their target price on Kelt Exploration from C$7.00 to C$5.50 and set an “outperform” rating for the company in a research note on Monday. Raymond James restated a “strong-buy” rating and issued a C$6.50 price target on shares of Kelt Exploration in a research report on Monday. BMO Capital Markets reduced their price target on shares of Kelt Exploration from C$7.50 to C$6.00 in a research report on Friday, August 9th. CIBC reduced their price target on shares of Kelt Exploration from C$6.50 to C$5.50 in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reduced their price target on shares of Kelt Exploration from C$6.00 to C$5.00 in a research report on Friday, October 18th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of C$6.55.

Shares of Kelt Exploration stock traded down C$0.05 during trading hours on Wednesday, hitting C$3.45. 231,134 shares of the company’s stock traded hands, compared to its average volume of 977,261. The stock has a 50 day simple moving average of C$3.17 and a 200-day simple moving average of C$3.78. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 36.75. The company has a market cap of $645.02 million and a PE ratio of 34.50. Kelt Exploration has a twelve month low of C$2.45 and a twelve month high of C$6.14.

In related news, Director David John Wilson purchased 45,000 shares of Kelt Exploration stock in a transaction dated Monday, August 26th. The shares were bought at an average cost of C$2.49 per share, for a total transaction of C$112,000.50. Following the purchase, the director now owns 11,254,190 shares in the company, valued at approximately C$28,010,553.49. Also, Senior Officer Bruce Douglas Gigg purchased 30,000 shares of Kelt Exploration stock in a transaction dated Monday, August 19th. The stock was bought at an average price of C$2.93 per share, for a total transaction of C$87,960.00. Following the completion of the purchase, the insider now owns 120,419 shares in the company, valued at approximately C$353,068.51. Over the last three months, insiders acquired 191,100 shares of company stock worth $526,602.

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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Earnings History and Estimates for Kelt Exploration (TSE:KEL)

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