Gulf Keystone Petroleum (LON:GKP) Stock Crosses Below 200 Day Moving Average – What’s Next?

Gulf Keystone Petroleum Limited (LON:GKP)’s share price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 190.32 and traded as low as GBX 189.20. Gulf Keystone Petroleum shares last traded at GBX 190.20, with a volume of 160,447 shares traded.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 275 price objective on shares of Gulf Keystone Petroleum in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of GBX 276.

Gulf Keystone Petroleum Stock Down 1.5%

The company has a quick ratio of 2.18, a current ratio of 2.00 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of GBX 199.41 and a 200-day simple moving average of GBX 190.32. The firm has a market cap of £413.58 million, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 0.06 and a beta of 0.12.

Insider Activity

In related news, insider Gabriel Papineau-Legris acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The stock was bought at an average cost of GBX 197 per share, for a total transaction of £19,700. Also, insider Jon Harris bought 14,000 shares of Gulf Keystone Petroleum stock in a transaction that occurred on Tuesday, October 20th. The stock was purchased at an average cost of GBX 213 per share, with a total value of £29,820. Insiders have purchased a total of 28,761 shares of company stock valued at $6,698,183 in the last ninety days. Corporate insiders own 16.03% of the company’s stock.

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.