Gulf Keystone Petroleum (LON:GKP) Trading 11.7% Higher – 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 ($2.42) and last traded at GBX 190.60 ($2.38). Approximately 2,671,702 shares were traded 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

A number of equities analysts recently issued reports on GKP shares. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 190 ($2.38) price target on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th. Canaccord Genuity Group raised their price objective on Gulf Keystone Petroleum from GBX 185 ($2.31) to GBX 200 ($2.50) and gave the stock a “speculative buy” rating in a report on Thursday, January 23rd.

Gulf Keystone Petroleum Stock Down 2.6 %

The stock’s fifty day moving average is GBX 151.76 and its two-hundred day moving average is GBX 136.07. The firm has a market cap 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 company has a current ratio of 0.97, a quick ratio of 2.18 and a debt-to-equity ratio of 0.03.

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.