Gulf Keystone Petroleum (LON:GKP) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Gulf Keystone Petroleum Limited (LON:GKP) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 187.45 and traded as low as GBX 172. Gulf Keystone Petroleum shares last traded at GBX 174.40, with a volume of 621,989 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lifted their price target on Gulf Keystone Petroleum from GBX 240 to GBX 280 and gave the stock a “speculative buy” rating in a report on Friday, March 20th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of GBX 272.

Gulf Keystone Petroleum Price Performance

The firm has a market cap of £379.22 million, a price-to-earnings ratio of 26.11, a P/E/G ratio of 0.06 and a beta of 0.10. The company has a current ratio of 1.64, a quick ratio of 2.18 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average price is GBX 187.99 and its 200-day moving average price is GBX 187.45.

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. The company was incorporated in 2001 and is based in Hamilton, Bermuda.