Gulf Keystone Petroleum (LON:GKP) Stock Price Up 11.7% – Here’s What Happened

Shares of Gulf Keystone Petroleum Limited (LON:GKP) shot up 11.7% during mid-day trading on Monday . The company traded as high as GBX 193.85 ($2.42) and last traded at GBX 190.60 ($2.38). 2,671,702 shares traded hands during trading, an increase of 156% from the average session volume of 1,043,470 shares. The stock had previously closed at GBX 170.60 ($2.13).

Analyst Ratings Changes

A number of research firms recently issued reports on GKP. Canaccord Genuity Group upped their price objective on shares of 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 reiterated a “speculative buy” rating and set a GBX 190 ($2.38) price objective on shares of Gulf Keystone Petroleum in a research report 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 price-to-earnings-growth ratio of 0.06 and a beta of 1.22. The stock’s 50 day moving average price is GBX 151.76 and its 200 day moving average price is GBX 136.07. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.18 and a current ratio of 0.97.

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.