In a new note to investors yesterday, an analyst has provided a rating update for Kelt Exploration (KEL). Analyst Randy Ollenberger from BMO Capital rated Kelt Exploration (KEL) a Buy, setting a C$8 price target.
According to TipRanks.com, Ollenberger is a 1-star analyst with an average return of -1.1% and a 45.8% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Birchcliff Energy Ltd, and Imperial Oil Limited.
Kelt Exploration has an analyst consensus of Strong Buy, with a price target consensus of C$7.75, implying a 28.5% upside from current levels. In a report issued on March 13, Macquarie also reiterated a Buy rating on the stock with a C$7 price target.
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Based on Kelt Exploration’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$2.84 million. In comparison, last year the company had a GAAP net loss of C$5.39 million.
Kelt Exploration Ltd. is an oil and gas company, which engages in the exploration, development, and production of crude oil and natural gas resources. It operates in the area of Grande Prairie in northwestern Alberta and Fort St. John in northeastern British Columbia. The company was founded on October 11, 2012 and is headquartered in Calgary, Canada.
The company’s shares closed on Thursday at C$6.03.
