Gulf Keystone Petroleum (LON:GKP) Reaches New 52-Week High – What’s Next?

Gulf Keystone Petroleum Limited (LON:GKP) shares hit a new 52-week high during trading on Friday . The stock traded as high as GBX 161.20 ($2.00) and last traded at GBX 161 ($1.99), with a volume of 1346348 shares traded. The stock had previously closed at GBX 153.30 ($1.90).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 190 ($2.35) target price on shares of Gulf Keystone Petroleum in a research note on Tuesday, October 8th.

Gulf Keystone Petroleum Price Performance

The stock has a market cap of £349.08 million, a price-to-earnings ratio of -5,366.67, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22. The company has a 50-day simple moving average of GBX 138.57 and a two-hundred day simple moving average of GBX 132.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.18 and a current ratio of 0.97.

Gulf Keystone Petroleum Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th were issued a $0.09 dividend. This is an increase from Gulf Keystone Petroleum’s previous dividend of $0.07. This represents a dividend yield of 5.54%. The ex-dividend date of this dividend was Thursday, October 17th. Gulf Keystone Petroleum’s payout ratio is currently -16,666.67%.

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.