Gulf Keystone Petroleum (LON:GKP) Stock Price Up 11.7% – Here’s What Happened

Gulf Keystone Petroleum Limited (LON:GKP) shares shot up 11.7% on Monday . The company traded as high as GBX 193.85 ($2.42) and last traded at GBX 190.60 ($2.38). 2,671,702 shares were traded during trading, an increase of 156% from the average session volume of 1,043,470 shares. The stock had previously closed at GBX 170.60 ($2.13).

Wall Street Analyst Weigh In

GKP has been the subject of several research reports. Canaccord Genuity Group upped their price objective on shares of Gulf Keystone Petroleum from GBX 185 ($2.31) to GBX 200 ($2.50) and gave the company a “speculative buy” rating in a research note on Thursday, January 23rd. Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 190 ($2.38) price target on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th.

Gulf Keystone Petroleum Stock Down 2.6 %

The business’s 50 day simple moving average is GBX 151.76 and its 200 day simple moving average is GBX 136.07. 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 company has a market capitalization of £398.52 million, a PE ratio of -6,126.67, a P/E/G ratio of 0.06 and a beta of 1.22.

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.