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

Key Points

• Gulf Keystone Petroleum saw its stock rise by 14.1% on Monday, trading as high as GBX 204 ($2.76) before closing at GBX 199.40 ($2.69).
• Market analysts have a consensus rating of "Buy" for Gulf Keystone Petroleum, with a target price averaging at GBX 200.
• The company, which specializes in oil and gas exploration in the Kurdistan Region of Iraq, currently has a market capitalization of £432.31 million.

Gulf Keystone Petroleum Limited (LON:GKP - Get Free Report) traded up 14.1% on Monday . The company traded as high as GBX 204 ($2.76) and last traded at GBX 199.40 ($2.69). 3,157,962 shares were traded 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

A number of equities analysts recently weighed in on the stock. Shore Capital reissued a "no recommendation" rating on shares of Gulf Keystone Petroleum in a research note on Thursday, August 28th. Canaccord Genuity Group lifted their price objective 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. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company 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 capitalization 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 business has a 50-day moving average of GBX 174.42 and a 200 day moving average of GBX 168.87. The company has a current ratio of 0.97, a quick ratio of 2.18 and a debt-to-equity ratio of 0.03.

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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