Cormark Equities Analysts Boost Earnings Estimates for Kelt Exploration Ltd (KEL)

Kelt Exploration Ltd (TSE:KEL) – Cormark raised their Q1 2018 earnings per share (EPS) estimates for shares of Kelt Exploration in a research note issued to investors on Friday. Cormark analyst A. Arif now forecasts that the oil and gas exploration company will post earnings per share of $0.05 for the quarter, up from their previous estimate of $0.03. Cormark also issued estimates for Kelt Exploration’s Q2 2018 earnings at $0.04 EPS, Q3 2018 earnings at $0.03 EPS, Q4 2018 earnings at $0.05 EPS and FY2018 earnings at $0.17 EPS.

Several other brokerages have also recently issued reports on KEL. Raymond James Financial raised their target price on shares of Kelt Exploration from C$9.25 to C$9.75 and gave the stock a “strong-buy” rating in a report on Friday, November 10th. Scotiabank dropped their target price on shares of Kelt Exploration from C$10.00 to C$9.25 and set an “outperform” rating on the stock in a report on Friday, November 10th. TD Securities raised their target price on shares of Kelt Exploration from C$8.50 to C$9.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Eight Capital raised their target price on shares of Kelt Exploration from C$9.75 to C$10.75 in a report on Friday. Finally, CSFB raised their target price on shares of Kelt Exploration from C$7.25 to C$8.50 in a report on Monday, November 13th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$9.53.

Shares of Kelt Exploration (TSE KEL) opened at C$6.99 on Monday. Kelt Exploration has a fifty-two week low of C$5.56 and a fifty-two week high of C$8.20. The stock has a market cap of $1,250.00, a P/E ratio of -233.00 and a beta of 0.93.

Kelt Exploration (TSE:KEL) last issued its earnings results on Thursday, November 9th. The oil and gas exploration company reported C($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C($0.08) by C$0.02. Kelt Exploration had a negative net margin of 20.76% and a negative return on equity of 5.12%. The company had revenue of C$56.42 million for the quarter, compared to analysts’ expectations of C$56.50 million.

In other Kelt Exploration news, insider Douglas Owen Macarthur sold 25,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of C$7.72, for a total value of C$193,000.00. Also, Director William Charles Guinan sold 9,700 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of C$7.35, for a total transaction of C$71,295.00. Over the last quarter, insiders acquired 156,100 shares of company stock worth $1,061,788 and sold 178,996 shares worth $1,335,914.

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About Kelt Exploration

Kelt Exploration Ltd. is an oil and gas company based in Calgary, Alberta. The Company is focused on the exploration, development and production of crude oil and natural gas resources, primarily in west central Alberta and northeastern British Columbia. The Company’s land holdings are located in Inga/Fireweed/Stoddart, British Columbia; Grande Prairie (including Pouce Coupe, Progress, Spirit River and La Glace), Alberta; Karr, Alberta, and Grande Cache, Alberta.

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