Gulf Keystone Petroleum (LON:GKP) Trading 11.7% Higher – Here’s What Happened

Gulf Keystone Petroleum Limited (LON:GKP)’s share price was up 11.7% during mid-day 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 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).

Analyst Ratings Changes

Several analysts have recently issued reports on GKP shares. Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 190 ($2.36) price objective on shares of Gulf Keystone Petroleum in a research report on Tuesday, October 8th. Canaccord Genuity Group increased their target price on Gulf Keystone Petroleum from GBX 185 ($2.30) to GBX 200 ($2.49) and gave the stock a “speculative buy” rating in a research report on Thursday, January 23rd.

Gulf Keystone Petroleum Price Performance

The company has a market capitalization of £413.26 million, a PE ratio of -6,353.33, a PEG ratio of 0.06 and a beta of 1.22. 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’s 50 day moving average price is GBX 149.29 and its 200-day moving average price is GBX 134.99.

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.