Gulf Keystone Petroleum (LON:GKP) Trading 14.1% Higher - Here's Why

Key Points

• Gulf Keystone Petroleum's share price increased by 14.1% on Monday, reaching a trading high of GBX 204 ($2.76) and last trading at GBX 199.40 ($2.69).
• The company has received upgrades from analysts, with Canaccord Genuity raising its price target from GBX 205 to GBX 210 and issuing a "speculative buy" rating.
• Gulf Keystone Petroleum has a low debt-to-equity ratio of 0.03 and a market capitalization of £432.31 million, indicating financial stability.

Gulf Keystone Petroleum Limited (LON:GKP - Get Free Report)'s share price rose 14.1% during 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 were traded during mid-day 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).

Analyst Upgrades and Downgrades

GKP has been the subject of a number of research analyst reports. Shore Capital reiterated a "no recommendation" rating on shares of Gulf Keystone Petroleum in a research note on Thursday, August 28th. Canaccord Genuity Group increased their price objective on Gulf Keystone Petroleum from GBX 205 to GBX 210 and gave the company a "speculative buy" rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Gulf Keystone Petroleum presently has a consensus rating of "Buy" and a consensus target price of GBX 200.

Gulf Keystone Petroleum Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 2.18. The firm has a fifty day moving average of GBX 174.42 and a 200 day moving average of GBX 168.87. The stock has a market capitalization of £432.31 million, a price-to-earnings ratio of -52,473.68, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22.

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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