Gulf Keystone Petroleum (LON:GKP) Shares Up 11.7% – Time to Buy?

Gulf Keystone Petroleum Limited (LON:GKP) traded up 11.7% during mid-day trading on Monday . The stock traded as high as GBX 193.85 ($2.38) and last traded at GBX 190.60 ($2.34). 2,671,702 shares were traded during mid-day trading, an increase of 156% from the average session volume of 1,043,470 shares. The stock had previously closed at GBX 170.60 ($2.10).

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GKP shares. Canaccord Genuity Group raised their target price on Gulf Keystone Petroleum from GBX 185 ($2.27) to GBX 200 ($2.46) and gave the company a “speculative buy” rating in a report on Thursday, January 23rd. Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 190 ($2.33) target price on shares of Gulf Keystone Petroleum in a research report on Tuesday, October 8th.

Gulf Keystone Petroleum Price Performance

The stock has a market capitalization of £413.26 million, a PE ratio of -6,353.33, a PEG 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 fifty day moving average price of GBX 149.29 and a 200-day moving average price of GBX 134.99.

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.