Gulf Keystone Petroleum (LON:GKP) Sets New 52-Week High – Here’s Why

Gulf Keystone Petroleum Limited (LON:GKP)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 209.80 ($2.70) and last traded at GBX 209.40 ($2.70), with a volume of 492668 shares changing hands. The stock had previously closed at GBX 202.80 ($2.61).

Analyst Ratings Changes

Separately, Canaccord Genuity Group upped their price target on shares of Gulf Keystone Petroleum from GBX 200 ($2.57) to GBX 225 ($2.90) and gave the stock a “speculative buy” rating in a research report on Thursday, March 20th.

Gulf Keystone Petroleum Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.18 and a current ratio of 0.97. The firm has a market capitalization of £557.32 million, a PE ratio of -72.93, a P/E/G ratio of 0.06 and a beta of 1.22. The stock has a fifty day moving average price of GBX 181.34 and a 200-day moving average price of GBX 150.83.

Gulf Keystone Petroleum Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a $0.12 dividend. This represents a yield of 4.37%. The ex-dividend date is Thursday, April 3rd. This is a positive change from Gulf Keystone Petroleum’s previous dividend of $0.09. Gulf Keystone Petroleum’s payout ratio is -177.88%.

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.