Kelt Exploration (OTCMKTS:KELTF) Trading Up 3.8% – Here’s Why

Kelt Exploration Ltd. (OTCMKTS:KELTF) shares rose 3.8% during mid-day trading on Tuesday . The stock traded as high as $5.6976 and last traded at $5.64. Approximately 57,591 shares were traded during mid-day trading, an increase of 16% from the average daily volume of 49,741 shares. The stock had previously closed at $5.4360.

Analysts Set New Price Targets

A number of analysts have recently weighed in on KELTF shares. Roth Capital began coverage on Kelt Exploration in a research note on Friday, December 19th. They issued a “buy” rating for the company. TD Securities reissued a “buy” rating on shares of Kelt Exploration in a report on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy”.

Kelt Exploration Stock Performance

The firm has a 50 day moving average price of $5.44 and a 200-day moving average price of $5.16.

About Kelt Exploration

Kelt Exploration Ltd. is a Calgary-based oil and gas company engaged in the exploration, development and production of petroleum and natural gas reserves in Western Canada. Using horizontal drilling and multi-stage fracturing techniques, the company targets light oil and natural gas liquids in unconventional resource plays. Kelt’s business model emphasizes cost efficiency and disciplined capital allocation to maximize value from its asset base.

The company’s core holdings are concentrated in the Montney and Deep Basin resource plays of West Central and Northern Alberta.