Gulf Keystone Petroleum (LON:GKP) Trading Up 11.7% – Still a Buy?

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on GKP. Canaccord Genuity Group raised their target price on shares of Gulf Keystone Petroleum from GBX 185 ($2.27) to GBX 200 ($2.46) and gave the stock 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) price objective on shares of Gulf Keystone Petroleum in a research note on Tuesday, October 8th.

Gulf Keystone Petroleum Price Performance

The firm has a market cap of £413.26 million, a P/E ratio of -6,353.33, a PEG ratio of 0.06 and a beta of 1.22. 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’s 50-day moving average is GBX 149.29 and its two-hundred day moving average is 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.