Gulf Keystone Petroleum (LON:GKP) Trading Up 11.5% – Time to Buy?

Gulf Keystone Petroleum Limited (LON:GKP) traded up 11.5% during trading on Monday . The company traded as high as GBX 193.85 ($2.42) and last traded at GBX 190.20 ($2.38). 9,924,429 shares changed hands during trading, an increase of 630% from the average session volume of 1,358,806 shares. The stock had previously closed at GBX 170.60 ($2.13).

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 190 ($2.38) target price on shares of Gulf Keystone Petroleum in a research report on Tuesday, October 8th. Canaccord Genuity Group lifted their price target on shares of Gulf Keystone Petroleum from GBX 185 ($2.31) to GBX 200 ($2.50) and gave the stock a “speculative buy” rating in a research note on Thursday, January 23rd.

Gulf Keystone Petroleum Stock Down 2.6 %

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 stock has a market capitalization of £398.52 million, a P/E ratio of -6,126.67, a P/E/G ratio of 0.06 and a beta of 1.22. The firm has a 50-day simple moving average of GBX 151.76 and a 200 day simple moving average of GBX 136.07.

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.