Gulf Keystone Petroleum (LON:GKP) Trading 11.5% Higher – Time to Buy?

Gulf Keystone Petroleum Limited (LON:GKP)’s stock price rose 11.5% during mid-day trading on Monday . The company traded as high as GBX 193.85 ($2.42) and last traded at GBX 190.20 ($2.38). Approximately 9,924,429 shares traded hands during mid-day trading, an increase of 630% from the average daily volume of 1,358,806 shares. The stock had previously closed at GBX 170.60 ($2.13).

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Gulf Keystone Petroleum from GBX 185 ($2.31) to GBX 200 ($2.50) and gave the company a “speculative buy” rating in a research note on Thursday, January 23rd. Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 190 ($2.38) price objective on shares of Gulf Keystone Petroleum in a research note on Tuesday, October 8th.

Gulf Keystone Petroleum Stock Performance

The company has a market capitalization of £398.52 million, a P/E ratio of -6,126.67, a PEG ratio of 0.06 and a beta of 1.22. The stock has a fifty day simple moving average of GBX 151.76 and a 200-day simple moving average of GBX 136.07. The company has a quick ratio of 2.18, a current ratio of 0.97 and a debt-to-equity ratio of 0.03.

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.