Gulf Keystone Petroleum (LON:GKP) Stock Price Up 14.1% - Should You Buy?

Key Points

• Gulf Keystone Petroleum's stock increased by 14.1% on Monday, with shares trading as high as GBX 204 ($2.76) and closing at GBX 199.40 ($2.69).
• Analysts have recently revised price targets for the stock, with Canaccord Genuity raising its target from GBX 205 to GBX 210 and maintaining a "speculative buy" rating.
• The company engages in oil and gas exploration and production in the Kurdistan Region of Iraq, operating the Shaikan field over an area of approximately 280 square kilometers.

Gulf Keystone Petroleum Limited (LON:GKP - Get Free Report) shares rose 14.1% during mid-day trading on Monday . The company traded as high as GBX 204 ($2.76) and last traded at GBX 199.40 ($2.69). Approximately 3,157,962 shares changed hands during trading, an increase of 261% from the average daily volume of 873,957 shares. The stock had previously closed at GBX 174.80 ($2.36).

Analysts Set New Price Targets

GKP has been the topic of a number of recent research reports. Canaccord Genuity Group increased their price target on Gulf Keystone Petroleum from GBX 205 to GBX 210 and gave the stock a "speculative buy" rating in a research report on Thursday, August 28th. Shore Capital restated 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 MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of GBX 200.

Gulf Keystone Petroleum Stock Performance

The stock has a market capitalization of £432.31 million, a PE ratio of -52,473.68, a PEG ratio of 0.06 and a beta of 1.22. 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 50 day moving average price of GBX 173.99 and a 200-day moving average price of GBX 168.77.

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.

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