Gulf Keystone Petroleum (LON:GKP) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Gulf Keystone Petroleum shares have crossed above their 200-day moving average, trading as high as GBX 183.40 ($2.48) before settling at GBX 181 ($2.44).
• The company's stock has gained 4.4% amidst strong trading volume of 414,565 shares.
• Gulf Keystone Petroleum operates in the Kurdistan Region of Iraq, focusing on oil and gas exploration, with a market capitalization of £513.82 million.

Gulf Keystone Petroleum Limited (LON:GKP - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 169.20 ($2.27) and traded as high as GBX 183.40 ($2.46). Gulf Keystone Petroleum shares last traded at GBX 181 ($2.42), with a volume of 414,565 shares trading hands.

Analyst Upgrades and Downgrades

GKP has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their price objective on shares of 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 reiterated a "no recommendation" rating on shares of Gulf Keystone Petroleum in a report on Thursday, August 28th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of GBX 200.

Gulf Keystone Petroleum Trading Down 1.5%

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 firm has a market capitalization of £413.91 million, a price-to-earnings ratio of 6,102.24, a P/E/G ratio of 0.06 and a beta of 1.22. The business has a 50-day moving average of GBX 171.31 and a two-hundred day moving average of GBX 169.46.

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.