Genel Energy (LON:GENL) Shares Up 23.4% - What's Next?

Key Points

• Genel Energy's shares surged by 23.4% during mid-day trading, reaching a high of GBX 79.80, significantly increasing the trading volume to over 2 million shares.
• Analysts at Canaccord Genuity have reiterated a "speculative buy" rating for Genel Energy with a target price of GBX 80, aligning with a consensus rating of "Buy" among analysts.
• Genel Energy is recognized as a socially responsible oil producer with low-cost production assets in the Kurdistan Region of Iraq and aims to restart regular dividend payments.

Genel Energy plc (LON:GENL - Get Free Report) shares were up 23.4% during mid-day trading on Monday . The company traded as high as GBX 79.80 ($1.08) and last traded at GBX 78.37 ($1.06). Approximately 2,132,044 shares traded hands during mid-day trading, an increase of 504% from the average daily volume of 353,247 shares. The stock had previously closed at GBX 63.50 ($0.86).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a "speculative buy" rating and set a GBX 80 price target on shares of Genel Energy in a research note on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of GBX 80.

Genel Energy Stock Down 4.5%

The firm's fifty day moving average price is GBX 63.16 and its 200-day moving average price is GBX 59.26. The company has a market capitalization of £202.83 million, a price-to-earnings ratio of -373.93, a P/E/G ratio of -0.03 and a beta of 1.13. The company has a debt-to-equity ratio of 59.32, a current ratio of 5.26 and a quick ratio of 5.87.

Genel Energy Company Profile

Genel Energy is a socially responsible oil producer with a low-cost and low-carbon production asset in the Kurdistan Region of Iraq and exploration assets in Oman, Morocco and Somaliland and listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). Genel's strategy is designed to build a business with resilient and diversified cash flows that delivers sustainable value to shareholders, and with the aim of restarting the payment of a regular dividend.