Gulf Keystone Petroleum (LON:GKP) Stock Price Up 14.1% - What's Next?

Key Points

• Gulf Keystone Petroleum's stock price rose by 14.1% on Monday, reaching a high of GBX 204 ($2.76) before closing at GBX 199.40 ($2.69).
• Analyst upgrades include Canaccord Genuity raising its price target from GBX 205 to GBX 210, with a "speculative buy" rating, while the consensus rating remains a "Buy" with an average target price of GBX 200.
• The company operates primarily in the Kurdistan Region of Iraq, focusing on oil and gas exploration and production, particularly in the Shaikan field covering around 280 square kilometers.

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

Analyst Upgrades and Downgrades

GKP has been the topic of several research analyst reports. Canaccord Genuity Group upped their price objective on 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 reissued 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, Based on data from MarketBeat.com, Gulf Keystone Petroleum presently has a consensus rating of "Buy" and an average target price of GBX 200.

Gulf Keystone Petroleum Price Performance

The firm has a market cap of £432.31 million, a P/E ratio of -52,473.68, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22. The company has a current ratio of 0.97, a quick ratio of 2.18 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of GBX 174.42 and a two-hundred day moving average of GBX 168.87.

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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