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

Gulf Keystone Petroleum Limited (LON:GKP)’s stock price shot up 11.7% during mid-day trading on Monday . The company traded as high as GBX 193.85 ($2.42) and last traded at GBX 190.60 ($2.38). 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 ($2.13).

Analysts Set New Price Targets

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

Gulf Keystone Petroleum Stock Performance

The company’s fifty day simple moving average is GBX 151.76 and its 200 day simple moving average is GBX 136.07. The firm has a market capitalization of £398.52 million, a PE 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 current ratio of 0.97 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.