Gulf Keystone Petroleum (LON:GKP) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Gulf Keystone Petroleum Limited (LON:GKP) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 179.20 and traded as high as GBX 183.20. Gulf Keystone Petroleum shares last traded at GBX 182, with a volume of 503,236 shares trading hands.

Wall Street Analyst Weigh In

GKP has been the topic of several recent research reports. Canaccord Genuity Group dropped their price objective on shares of Gulf Keystone Petroleum from GBX 250 to GBX 240 and set a “speculative buy” rating on the stock in a report on Friday, January 23rd. Peel Hunt upped their price target on shares of Gulf Keystone Petroleum from GBX 247 to GBX 264 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 252.

Gulf Keystone Petroleum Stock Down 0.1%

The company has a 50 day moving average of GBX 175.57 and a 200-day moving average of GBX 179.20. The company has a market cap of £394.59 million, a P/E ratio of -478.95, 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.

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. The company was incorporated in 2001 and is based in Hamilton, Bermuda.