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

Gulf Keystone Petroleum Limited (LON:GKP) shot up 11.5% on Monday . The stock traded as high as GBX 193.85 ($2.38) and last traded at GBX 190.20 ($2.34). 9,924,429 shares were traded during mid-day trading, an increase of 630% from the average session volume of 1,358,806 shares. The stock had previously closed at GBX 170.60 ($2.10).

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GKP. Canaccord Genuity Group lifted their price objective on Gulf Keystone Petroleum from GBX 185 ($2.27) to GBX 200 ($2.46) and gave the company a “speculative buy” rating in a report on Thursday, January 23rd. Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 190 ($2.33) price objective on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th.

Gulf Keystone Petroleum Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.18 and a current ratio of 0.97. The company has a market cap of £413.26 million, a price-to-earnings ratio of -6,353.33, a PEG ratio of 0.06 and a beta of 1.22. The business has a fifty day moving average price of GBX 149.29 and a 200 day moving average price of GBX 134.99.

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.