Gulf Keystone Petroleum (LON:GKP) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Gulf Keystone Petroleum Limited (LON:GKP)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 132.62 ($1.64) and traded as high as GBX 145.60 ($1.80). Gulf Keystone Petroleum shares last traded at GBX 145.60 ($1.80), with a volume of 269,451 shares traded.

Wall Street Analyst Weigh In

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

Gulf Keystone Petroleum Stock Up 5.0 %

The firm has a market cap of £349.08 million, a price-to-earnings ratio of -5,366.67, a PEG ratio of 0.06 and a beta of 1.22. The company has a quick ratio of 2.18, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of GBX 138.57 and a 200-day moving average price of GBX 132.76.

Gulf Keystone Petroleum Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 17th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, October 17th. This is a positive change from Gulf Keystone Petroleum’s previous dividend of $0.07. This represents a yield of 5.54%. Gulf Keystone Petroleum’s payout ratio is -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.