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

Gulf Keystone Petroleum Limited (LON:GKP) shares were up 11.7% on Monday . The stock traded as high as GBX 193.85 ($2.42) and last traded at GBX 190.60 ($2.38). 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 ($2.13).

Wall Street Analyst Weigh In

Several brokerages recently commented on GKP. Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 190 ($2.38) target price on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th. Canaccord Genuity Group upped their target price on shares of Gulf Keystone Petroleum from GBX 185 ($2.31) to GBX 200 ($2.50) and gave the stock a “speculative buy” rating in a research report on Thursday, January 23rd.

Gulf Keystone Petroleum Stock Down 2.6 %

The business has a 50-day simple moving average of GBX 151.76 and a two-hundred day simple moving average of GBX 136.07. The company has a quick ratio of 2.18, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. The company has a market cap of £398.52 million, a price-to-earnings ratio of -6,126.67, a PEG ratio of 0.06 and a beta of 1.22.

Gulf Keystone Petroleum Company Profile

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.