Gulf Keystone Petroleum (LON:GKP) Trading Up 11.7% – Should You Buy?

Gulf Keystone Petroleum Limited (LON:GKP) traded up 11.7% during mid-day trading on Monday . The company traded as high as GBX 193.85 ($2.42) and last traded at GBX 190.60 ($2.38). 2,671,702 shares were traded during mid-day trading, an increase of 156% from the average session volume of 1,043,470 shares. The stock had previously closed at GBX 170.60 ($2.13).

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GKP shares. Canaccord Genuity Group boosted 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 report on Thursday, January 23rd. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 190 ($2.38) price objective on shares of Gulf Keystone Petroleum in a research note on Tuesday, October 8th.

Gulf Keystone Petroleum Price Performance

The stock has a market capitalization 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. The business’s fifty day moving average price is GBX 151.76 and its 200-day moving average price is GBX 136.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 2.18.

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.