Gulf Keystone Petroleum (LON:GKP) Shares Up 11.7% – Here’s Why

Shares of Gulf Keystone Petroleum Limited (LON:GKP) traded up 11.7% during trading on Monday . The company traded as high as GBX 193.85 ($2.38) and last traded at GBX 190.60 ($2.34). 2,671,702 shares changed hands during mid-day trading, an increase of 156% from the average session volume of 1,043,470 shares. The stock had previously closed at GBX 170.60 ($2.10).

Wall Street Analysts Forecast Growth

GKP has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their price target on shares of Gulf Keystone Petroleum from GBX 185 ($2.27) to GBX 200 ($2.46) and gave the company a “speculative buy” rating in a research note on Thursday, January 23rd. Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 190 ($2.33) target price on shares of Gulf Keystone Petroleum in a research report on Tuesday, October 8th.

Gulf Keystone Petroleum Stock Up 11.7 %

The firm has a 50-day simple moving average of GBX 149.29 and a 200 day simple moving average of GBX 134.99. The stock has a market capitalization of £413.26 million, a P/E ratio of -6,353.33, 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.

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.