Gulf Keystone Petroleum (LON:GKP) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Gulf Keystone Petroleum Limited (LON:GKP) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 174.98 and traded as low as GBX 171.60. Gulf Keystone Petroleum shares last traded at GBX 175.60, with a volume of 423,207 shares traded.

Analyst Ratings Changes

Several brokerages have recently issued reports on GKP. Canaccord Genuity Group lifted their price target on Gulf Keystone Petroleum from GBX 210 to GBX 250 and gave the company a “speculative buy” rating in a research note on Tuesday, September 30th. Shore Capital reiterated a “no recommendation” rating on shares of Gulf Keystone Petroleum in a research report on Thursday, August 28th. Finally, Peel Hunt boosted their target price on shares of Gulf Keystone Petroleum from GBX 247 to GBX 264 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of GBX 257.

Gulf Keystone Petroleum Trading Up 1.3%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.18 and a current ratio of 0.97. The business has a 50 day moving average of GBX 184.90 and a two-hundred day moving average of GBX 174.98. The firm has a market capitalization of £380.71 million, a price-to-earnings ratio of -462.11, a P/E/G ratio of 0.06 and a beta of 1.22.

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.