Gulf Keystone Petroleum (LON:GKP) Stock Breaks Below 200-Day Moving Average – Time to Sell?

Gulf Keystone Petroleum Limited (LON:GKP) shares crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of GBX 189.93 and traded as low as GBX 186.90. Gulf Keystone Petroleum shares last traded at GBX 187, with a volume of 8,554,391 shares.

Analyst Ratings Changes

GKP has been the topic of a number of analyst reports. Peel Hunt reaffirmed a “buy” rating and issued a GBX 277 price target on shares of Gulf Keystone Petroleum in a research report on Monday, July 13th. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 275 price objective on shares of Gulf Keystone Petroleum in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 276.

Gulf Keystone Petroleum Price Performance

The stock’s fifty day moving average price is GBX 199.68 and its two-hundred day moving average price is GBX 189.93. The firm has a market capitalization of £405.75 million, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 0.06 and a beta of 0.12. The company has a current ratio of 2.00, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25.

Insider Buying and Selling

In other Gulf Keystone Petroleum news, insider Gabriel Papineau-Legris bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The shares were purchased at an average price of GBX 197 per share, with a total value of £19,700. Also, insider David Howard Thomas purchased 2,461 shares of the business’s stock in a transaction on Wednesday, October 21st. The stock was acquired at an average price of GBX 203 per share, for a total transaction of £4,995.83. Over the last quarter, insiders bought 28,761 shares of company stock worth $6,698,183. Corporate insiders own 16.03% of the company’s stock.

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.