Gulf Keystone Petroleum (LON:GKP) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Gulf Keystone Petroleum Limited (LON:GKP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 129.47 ($1.69) and traded as high as GBX 137.40 ($1.79). Gulf Keystone Petroleum shares last traded at GBX 135.20 ($1.76), with a volume of 1,110,942 shares traded.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 190 ($2.47) target price on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th.

Gulf Keystone Petroleum Price Performance

The business’s 50-day simple moving average is GBX 124.01 and its two-hundred day simple moving average is GBX 129.57. The stock has a market cap of £291.41 million, a price-to-earnings ratio of -4,480.00, a price-to-earnings-growth 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.

Gulf Keystone Petroleum Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 17th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, October 17th. This represents a yield of 5.54%. This is a positive change from Gulf Keystone Petroleum’s previous dividend of $0.07. Gulf Keystone Petroleum’s payout ratio is currently -16,666.67%.

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.