Gulf Keystone Petroleum (LON:GKP) Trading 11.7% Higher – Still a Buy?

Gulf Keystone Petroleum Limited (LON:GKP) was up 11.7% during mid-day 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 changed 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 Analysts Forecast Growth

A number of equities analysts have issued reports on GKP shares. Canaccord Genuity Group raised their target price 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 report on Thursday, January 23rd. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 190 ($2.38) target price on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th.

Gulf Keystone Petroleum Stock Down 2.6 %

The firm’s 50 day simple moving average is GBX 151.76 and its 200 day simple moving average is GBX 136.07. The company 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 quick ratio of 2.18, a current ratio of 0.97 and a debt-to-equity ratio of 0.03.

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.