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

Shares of Gulf Keystone Petroleum Limited (LON:GKP) traded 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 traded hands during mid-day 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

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

Gulf Keystone Petroleum Stock Up 11.7 %

The firm’s 50 day moving average price is GBX 150.24 and its two-hundred day moving average price is GBX 135.36. 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 has a market cap 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.

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.