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

Shares of Gulf Keystone Petroleum Limited (LON:GKP) were up 11.7% during trading on Monday . The stock 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 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 ($2.12).

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GKP shares. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 190 ($2.36) price target on shares of Gulf Keystone Petroleum in a research report on Tuesday, October 8th. Canaccord Genuity Group increased their price target 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 note on Thursday, January 23rd.

Gulf Keystone Petroleum Trading Up 11.7 %

The company has a market capitalization of £413.26 million, a PE ratio of -6,353.33, a P/E/G ratio of 0.06 and a beta of 1.22. 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 business has a fifty day moving average price of GBX 150.24 and a 200 day moving average price of GBX 135.36.

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.