Gulf Keystone Petroleum (LON:GKP) Stock Price Up 11.7% – Here’s What Happened

Gulf Keystone Petroleum Limited (LON:GKP) shares rose 11.7% during trading on Monday . The company traded as high as GBX 193.85 ($2.42) and last traded at GBX 190.60 ($2.38). Approximately 2,671,702 shares changed hands during mid-day trading, an increase of 156% from the average daily volume of 1,043,470 shares. The stock had previously closed at GBX 170.60 ($2.13).

Wall Street Analyst Weigh In

Several analysts recently commented on GKP shares. Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 190 ($2.38) target price on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th. Canaccord Genuity Group lifted their target price on shares of Gulf Keystone Petroleum from GBX 185 ($2.31) to GBX 200 ($2.50) and gave the stock a “speculative buy” rating in a report on Thursday, January 23rd.

Gulf Keystone Petroleum Stock Down 2.6 %

The firm has a market cap of £398.52 million, a P/E ratio of -6,126.67, a P/E/G ratio of 0.06 and a beta of 1.22. 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 firm’s fifty day moving average is GBX 151.76 and its 200 day moving average is GBX 136.07.

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.