Gulf Keystone Petroleum (LON:GKP) Trading 11.7% Higher – Should You Buy?

Gulf Keystone Petroleum Limited (LON:GKP)’s share price was up 11.7% during trading on Monday . The company traded as high as GBX 193.85 ($2.38) and last traded at GBX 190.60 ($2.34). 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 ($2.10).

Analyst Upgrades and Downgrades

GKP has been the subject of a number of research analyst reports. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 190 ($2.33) price target on shares of Gulf Keystone Petroleum in a research report on Tuesday, October 8th. Canaccord Genuity Group lifted their price target on shares of Gulf Keystone Petroleum from GBX 185 ($2.27) to GBX 200 ($2.46) and gave the company a “speculative buy” rating in a research report on Thursday, January 23rd.

Gulf Keystone Petroleum Trading Up 11.7 %

The business’s 50 day moving average price is GBX 149.29 and its 200-day moving average price is GBX 134.99. The company has a market cap of £413.26 million, a price-to-earnings ratio of -6,353.33, a PEG 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.