Gulf Keystone Petroleum (LON:GKP) Trading Up 11.7% – Here’s Why

Gulf Keystone Petroleum Limited (LON:GKP)’s stock price was up 11.7% during trading on Monday . The stock traded as high as GBX 193.85 ($2.38) and last traded at GBX 190.60 ($2.34). Approximately 2,671,702 shares changed hands during mid-day trading, an increase of 156% from the average daily volume of 1,043,470 shares. The stock had previously closed at GBX 170.60 ($2.10).

Analyst Ratings Changes

GKP has been the topic of a number of recent research reports. Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 190 ($2.33) target price on shares of Gulf Keystone Petroleum in a research note on Tuesday, October 8th. Canaccord Genuity Group raised their price objective on shares of Gulf Keystone Petroleum from GBX 185 ($2.27) to GBX 200 ($2.46) and gave the company a “speculative buy” rating in a report on Thursday, January 23rd.

Gulf Keystone Petroleum Price Performance

The company has a 50 day moving average price of GBX 149.29 and a 200 day moving average price of GBX 134.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 2.18. The firm has a market cap of £413.26 million, a PE ratio of -6,353.33, a PEG ratio of 0.06 and a beta of 1.22.

About Gulf Keystone Petroleum

Gulf Keystone Petroleum Limited engages in oil and gas exploration, development, and production in the Kurdistan Region of Iraq. The company operates Shaikan field that covers an area of approximately 280 square kilometers, which is located north-west of Erbil. It also provides management, support, geological, geophysical, and engineering services.