Gulf Keystone Petroleum (LON:GKP) Shares Up 14.7% - Time to Buy?

Key Points

• Gulf Keystone Petroleum's shares surged 14.7%, reaching a last traded price of GBX 200.50 ($2.70), after seeing a dramatic increase in trading volume.
• Analysts have set a new price target of GBX 210 and given Gulf Keystone a "speculative buy" rating, with the stock currently holding a consensus rating of "Buy."
• The company's market capitalization is approximately £432.31 million, with a current ratio of 0.97 and a debt-to-equity ratio of 0.03, indicating strong financial stability.

Gulf Keystone Petroleum Limited (LON:GKP - Get Free Report) shot up 14.7% during trading on Monday . The company traded as high as GBX 204 ($2.75) and last traded at GBX 200.50 ($2.70). 3,558,831 shares traded hands during mid-day trading, an increase of 306% from the average session volume of 876,148 shares. The stock had previously closed at GBX 174.80 ($2.35).

Analyst Upgrades and Downgrades

A number of research firms have commented on GKP. Canaccord Genuity Group lifted their price objective on shares of Gulf Keystone Petroleum from GBX 205 to GBX 210 and gave the company 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 research note on Thursday, August 28th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of GBX 200.

Gulf Keystone Petroleum Trading Up 14.1%

The stock has a market cap of £432.31 million, a PE ratio of -52,473.68, a P/E/G ratio of 0.06 and a beta of 1.22. The business's fifty day moving average is GBX 173.99 and its 200 day moving average is GBX 168.77. The company has a quick ratio of 2.18, a current ratio of 0.97 and a debt-to-equity ratio of 0.03.

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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