Gulf Keystone Petroleum (LON:GKP) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Gulf Keystone Petroleum's stock price has recently crossed above its 200-day moving average of GBX 169.31 ($2.30), indicating potential upward momentum.
• Analysts have adjusted their target price for Gulf Keystone Petroleum, with Canaccord Genuity Group raising it to GBX 210 and maintaining a "speculative buy" rating.
• The company has a market capitalization of £366.40 million and operates primarily in the Kurdistan Region of Iraq focusing on oil and gas exploration and production.

Shares of Gulf Keystone Petroleum Limited (LON:GKP - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 169.31 ($2.29) and traded as high as GBX 172.03 ($2.33). Gulf Keystone Petroleum shares last traded at GBX 169 ($2.29), with a volume of 737,064 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GKP shares. Canaccord Genuity Group increased 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, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of GBX 200.

Gulf Keystone Petroleum Trading Up 1.0%

The company has a 50-day moving average price of GBX 173.81 and a 200-day moving average price of GBX 168.96. The firm has a market capitalization of £384.18 million, a price-to-earnings ratio of -46,631.58, a PEG ratio of 0.06 and a beta of 1.22. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.18 and a current ratio of 0.97.

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.