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

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

Analyst Ratings Changes

Several research analysts have recently commented on GKP shares. Canaccord Genuity Group boosted their price target 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 reaffirmed a “speculative buy” rating and set a GBX 190 ($2.38) target price on shares of Gulf Keystone Petroleum in a research report on Tuesday, October 8th.

Gulf Keystone Petroleum Stock Down 2.6 %

The company has a 50-day moving average of GBX 151.76 and a 200-day moving average of GBX 136.07. The company has a current ratio of 0.97, a quick ratio of 2.18 and a debt-to-equity ratio of 0.03. The company has a market capitalization of £398.52 million, a price-to-earnings ratio of -6,126.67, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22.

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.