Gulf Keystone Petroleum (LON:GKP) Trading 10.3% Higher – Still a Buy?

Gulf Keystone Petroleum Limited (LON:GKP) shares shot up 10.3% during mid-day trading on Monday . The stock traded as high as GBX 189.90 ($2.37) and last traded at GBX 188.10 ($2.35). 6,935,580 shares traded hands during mid-day trading, an increase of 464% from the average session volume of 1,228,856 shares. The stock had previously closed at GBX 170.60 ($2.13).

Analyst Ratings Changes

GKP has been the subject of several recent analyst reports. Canaccord Genuity Group upped their price objective on Gulf Keystone Petroleum from GBX 185 ($2.31) to GBX 200 ($2.50) and gave the stock a “speculative buy” rating in a research report on Thursday, January 23rd. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 190 ($2.37) target price on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th.

Gulf Keystone Petroleum Price Performance

The business’s 50-day simple moving average is GBX 151.06 and its two-hundred day simple moving average is GBX 135.73. The stock has a market cap of £398.47 million, a price-to-earnings ratio of -6,126.00, a price-to-earnings-growth 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.

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.