Gulf Keystone Petroleum (LON:GKP) Trading 10.3% Higher – Here’s What Happened

Gulf Keystone Petroleum Limited (LON:GKP)’s stock price shot up 10.3% during trading on Monday . The company traded as high as GBX 189.90 ($2.37) and last traded at GBX 188.10 ($2.35). 6,935,580 shares were traded during trading, an increase of 464% from the average session volume of 1,228,856 shares. The stock had previously closed at GBX 170.60 ($2.13).

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GKP. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 190 ($2.37) price objective on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th. Canaccord Genuity Group increased their price target on Gulf Keystone Petroleum from GBX 185 ($2.31) to GBX 200 ($2.50) and gave the stock a “speculative buy” rating in a research report on Thursday, January 23rd.

Gulf Keystone Petroleum Stock Performance

The firm has a market cap of £398.47 million, a price-to-earnings ratio of -6,126.00, 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 moving average of GBX 151.06 and a 200 day moving average of GBX 135.73.

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.