Gulf Keystone Petroleum (LON:GKP) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

Gulf Keystone Petroleum Limited (LON:GKP)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 187.76 and traded as low as GBX 168. Gulf Keystone Petroleum shares last traded at GBX 173.60, with a volume of 2,348,600 shares.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted their target price on shares of Gulf Keystone Petroleum from GBX 240 to GBX 280 and gave the stock a “speculative buy” rating in a report on Friday, March 20th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Gulf Keystone Petroleum has a consensus rating of “Buy” and a consensus target price of GBX 272.

Gulf Keystone Petroleum Stock Performance

The firm has a market capitalization of £371.83 million, a PE ratio of 25.60, a P/E/G ratio of 0.06 and a beta of 0.12. The business has a 50-day simple moving average of GBX 180.15 and a 200-day simple moving average of GBX 187.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 2.18.

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. The company was incorporated in 2001 and is based in Hamilton, Bermuda.