Gulf Keystone Petroleum (LON:GKP) Trading 11.7% Higher – Should You Buy?

Gulf Keystone Petroleum Limited (LON:GKP) shot up 11.7% on Monday . The company traded as high as GBX 193.85 ($2.41) and last traded at GBX 190.60 ($2.37). 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 ($2.12).

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GKP. Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 190 ($2.36) price target on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th. Canaccord Genuity Group lifted their price objective on Gulf Keystone Petroleum from GBX 185 ($2.30) to GBX 200 ($2.49) and gave the stock a “speculative buy” rating in a research note on Thursday, January 23rd.

Gulf Keystone Petroleum Trading Up 11.7 %

The firm has a market capitalization of £413.26 million, a price-to-earnings ratio of -6,353.33, a P/E/G 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 firm’s 50-day simple moving average is GBX 149.29 and its 200 day simple 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.