Gulf Keystone Petroleum (LON:GKP) Shares Up 11.7% – What’s Next?

Gulf Keystone Petroleum Limited (LON:GKP) shares were up 11.7% during mid-day trading on Monday . The company traded as high as GBX 193.85 ($2.41) and last traded at GBX 190.60 ($2.37). 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 ($2.12).

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GKP shares. Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 190 ($2.36) price target on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th. Canaccord Genuity Group increased their price target on shares of Gulf Keystone Petroleum from GBX 185 ($2.30) to GBX 200 ($2.49) and gave the stock a “speculative buy” rating in a research report on Thursday, January 23rd.

Gulf Keystone Petroleum Stock Performance

The firm has a fifty day simple moving average of GBX 150.24 and a two-hundred day simple moving average of GBX 135.36. 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 price-to-earnings ratio of -6,353.33, a P/E/G 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.