Gulf Keystone Petroleum (LON:GKP) Trading 11.7% Higher – Should You Buy?

Shares of Gulf Keystone Petroleum Limited (LON:GKP) were up 11.7% during mid-day trading on Monday . The company traded as high as GBX 193.85 ($2.41) and last traded at GBX 190.60 ($2.37). Approximately 2,671,702 shares traded hands during trading, an increase of 156% from the average daily volume of 1,043,470 shares. The stock had previously closed at GBX 170.60 ($2.12).

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GKP shares. Canaccord Genuity Group increased their price objective on shares of Gulf Keystone Petroleum from GBX 185 ($2.30) to GBX 200 ($2.49) and gave the stock a “speculative buy” rating in a research report on Thursday, January 23rd. Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 190 ($2.36) target price on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th.

Gulf Keystone Petroleum Stock Up 11.7 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.18 and a current ratio of 0.97. The company has a market cap of £413.26 million, a price-to-earnings ratio of -6,353.33, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22. The stock’s fifty day moving average is GBX 149.29 and its two-hundred day moving average is GBX 134.99.

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.