Gulf Keystone Petroleum (LON:GKP) Trading 14.1% Higher – What’s Next?

Shares of Gulf Keystone Petroleum Limited (LON:GKP) traded up 14.1% during mid-day trading on Tuesday . The company traded as high as GBX 204 ($2.74) and last traded at GBX 199.40 ($2.68). 3,157,962 shares were traded during trading, an increase of 261% from the average session volume of 873,957 shares. The stock had previously closed at GBX 174.80 ($2.35).

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GKP shares. Shore Capital reaffirmed a “no recommendation” rating on shares of Gulf Keystone Petroleum in a research report on Thursday, August 28th. Canaccord Genuity Group upped their target price on Gulf Keystone Petroleum from GBX 205 to GBX 210 and gave the stock a “speculative buy” rating in a research report on Thursday, August 28th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of GBX 200.

Gulf Keystone Petroleum Price Performance

The stock has a market cap of £449.80 million, a PE ratio of -54,596.84, a P/E/G ratio of 0.06 and a beta of 1.22. 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 business has a fifty day moving average of GBX 175.88 and a 200 day moving average of GBX 169.35.

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.