Genel Energy (LON:GENL) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Genel Energy's stock price has surpassed its 200-day moving average, trading at GBX 64.90 ($0.88) with a high of GBX 65.50 ($0.88).
• Canaccord Genuity Group has reiterated a "speculative buy" rating for Genel Energy, setting a price target of GBX 80.
• The company, which operates in the Kurdistan Region of Iraq, aims to restart regular dividend payments while maintaining a low-cost, low-carbon production strategy.

Shares of Genel Energy plc (LON:GENL - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 59.34 ($0.79) and traded as high as GBX 65.50 ($0.88). Genel Energy shares last traded at GBX 64.90 ($0.87), with a volume of 255,014 shares traded.

Analyst Ratings Changes

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

Genel Energy Price Performance

The company has a fifty day simple moving average of GBX 61.99 and a two-hundred day simple moving average of GBX 59.32. The company has a debt-to-equity ratio of 59.32, a quick ratio of 5.87 and a current ratio of 5.26. The stock has a market capitalization of £184.47 million, a price-to-earnings ratio of -241.01, a PEG ratio of -0.03 and a beta of 1.13.

About Genel Energy

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.