Gulf Keystone Petroleum (LON:GKP) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Gulf Keystone Petroleum Limited (LON:GKP)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 129.47 ($1.69) and traded as high as GBX 137.40 ($1.79). Gulf Keystone Petroleum shares last traded at GBX 135.20 ($1.76), with a volume of 1,110,942 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 190 ($2.47) price target on shares of Gulf Keystone Petroleum in a research report on Tuesday, October 8th.

Gulf Keystone Petroleum Stock Performance

The stock has a market capitalization of £291.41 million, a P/E ratio of -4,480.00, a P/E/G 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 stock has a 50 day simple moving average of GBX 124.01 and a two-hundred day simple moving average of GBX 129.57.

Gulf Keystone Petroleum Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th were paid a $0.09 dividend. The ex-dividend date was Thursday, October 17th. This represents a yield of 5.54%. This is a boost from Gulf Keystone Petroleum’s previous dividend of $0.07. Gulf Keystone Petroleum’s dividend payout ratio (DPR) is currently -16,666.67%.

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.