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

Gulf Keystone Petroleum Limited (LON:GKP) shares rose 11.7% during mid-day 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 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 ($2.13).

Wall Street Analyst Weigh In

GKP has been the subject of several research analyst reports. 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 note on Tuesday, October 8th. Canaccord Genuity Group increased 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.

Gulf Keystone Petroleum Trading 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 stock has a market cap 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. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.18 and a current ratio of 0.97.

About Gulf Keystone Petroleum

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.