Gulf Keystone Petroleum (LON:GKP) Trading Up 14.1% - Here's What Happened

Key Points

• Gulf Keystone Petroleum's stock surged 14.1% during trading, reaching a high of GBX 204 ($2.76) and concluding at GBX 199.40 ($2.69).
• Canaccord Genuity raised its price target for the stock from GBX 205 to GBX 210, maintaining a "speculative buy" rating.
• The company, which operates in the Kurdistan Region of Iraq, has a market capitalization of approximately £445.42 million and a consensus rating of "Buy" among analysts.

Gulf Keystone Petroleum Limited (LON:GKP - Get Free Report) was 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). Approximately 3,157,962 shares changed hands 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).

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GKP shares. 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. Shore Capital reissued a "no recommendation" rating on shares of Gulf Keystone Petroleum in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Gulf Keystone Petroleum currently has a consensus rating of "Buy" and a consensus target price of GBX 200.

Gulf Keystone Petroleum Stock Up 3.0%

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 stock has a market cap of £445.42 million, a P/E ratio of -54,064.74, a PEG ratio of 0.06 and a beta of 1.22. The firm has a 50-day simple moving average of GBX 174.42 and a two-hundred day simple 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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