Gulf Keystone Petroleum (LON:GKP) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Shares of Gulf Keystone Petroleum Limited (LON:GKP - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 158.39 ($2.11) and traded as high as GBX 160.40 ($2.14). Gulf Keystone Petroleum shares last traded at GBX 157.40 ($2.10), with a volume of 758,438 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their price objective on shares of Gulf Keystone Petroleum from GBX 200 ($2.66) to GBX 225 ($3.00) and gave the stock a "speculative buy" rating in a research report on Thursday, March 20th.

Gulf Keystone Petroleum Stock Performance

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 cap of £413.77 million, a price-to-earnings ratio of -54.15, a PEG ratio of 0.06 and a beta of 1.22. The stock has a 50 day simple moving average of GBX 176.10 and a 200 day simple moving average of GBX 158.81.

Gulf Keystone Petroleum Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were issued a $0.12 dividend. This represents a yield of 4.37%. The ex-dividend date of this dividend was Thursday, April 3rd. This is a boost from Gulf Keystone Petroleum's previous dividend of $0.09. Gulf Keystone Petroleum's dividend payout ratio is currently -177.88%.

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.