Gulf Keystone Petroleum (LON:GKP) Reaches New 1-Year High - What's Next?

Key Points

• Gulf Keystone Petroleum's share price reached a new 52-week high, trading at GBX 226 ($3.03) during the day.
• Analysts have raised their target price for the stock, with a consensus rating of "Buy" and a target price of GBX 200.
• The company operates in the Kurdistan Region of Iraq and focuses on oil and gas exploration, development, and production.

Gulf Keystone Petroleum Limited (LON:GKP - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 226 ($3.03) and last traded at GBX 221 ($2.96), with a volume of 2115982 shares traded. The stock had previously closed at GBX 219 ($2.94).

Analysts Set New Price Targets

GKP has been the topic of several recent analyst reports. Canaccord Genuity Group raised their target price on Gulf Keystone Petroleum from GBX 205 to GBX 210 and gave the stock a "speculative buy" rating in a research note on Thursday, August 28th. Shore Capital reissued a "no recommendation" rating on shares of Gulf Keystone Petroleum in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of GBX 200.

Gulf Keystone Petroleum Stock Up 0.9%

The company has a quick ratio of 2.18, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. The company has a market capitalization of £479.14 million, a P/E ratio of -58,157.89, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22. The company has a 50-day moving average of GBX 177.62 and a two-hundred day moving average of GBX 169.46.

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.

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