Gulf Keystone Petroleum (LON:GKP) Trading 11.7% Higher – Here’s What Happened

Gulf Keystone Petroleum Limited (LON:GKP)’s share price rose 11.7% during trading on Monday . The stock traded as high as GBX 193.85 ($2.42) and last traded at GBX 190.60 ($2.38). Approximately 2,671,702 shares changed hands during trading, an increase of 156% from the average daily volume of 1,043,470 shares. The stock had previously closed at GBX 170.60 ($2.13).

Analyst Upgrades and Downgrades

GKP has been the subject of a number of research analyst reports. Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 190 ($2.38) target price on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th. Canaccord Genuity Group raised their price objective 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 report on Thursday, January 23rd.

Gulf Keystone Petroleum Stock Performance

The company has a market capitalization of £398.52 million, a price-to-earnings ratio of -6,126.67, a P/E/G ratio of 0.06 and a beta of 1.22. The company has a 50 day moving average price of GBX 151.76 and a 200 day moving average price of GBX 136.07. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.18 and a current ratio of 0.97.

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.