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

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

GKP has been the subject of several analyst reports. Canaccord Genuity Group increased their price target on shares of Gulf Keystone Petroleum from GBX 185 ($2.31) to GBX 200 ($2.50) and gave the company a “speculative buy” rating in a research note on Thursday, January 23rd. Canaccord Genuity Group reissued 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.

Gulf Keystone Petroleum Trading Down 2.6 %

The company’s 50 day simple moving average is GBX 151.76 and its two-hundred day simple moving average is GBX 136.07. The company has a market cap of £398.52 million, a PE 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 current ratio of 0.97 and a quick ratio of 2.18.

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.