Gulf Keystone Petroleum (LON:GKP) Trading 11.7% Higher – Still a Buy?

Gulf Keystone Petroleum Limited (LON:GKP) shares traded 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 changed hands during 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).

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 190 ($2.38) price objective on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th. Canaccord Genuity Group boosted their price objective on Gulf Keystone Petroleum from GBX 185 ($2.31) to GBX 200 ($2.50) and gave the company a “speculative buy” rating in a report on Thursday, January 23rd.

Gulf Keystone Petroleum Trading Down 2.6 %

The company has a current ratio of 0.97, a quick ratio of 2.18 and a debt-to-equity ratio of 0.03. The stock has a 50-day simple moving average of GBX 151.76 and a two-hundred day simple moving average of GBX 136.07. The firm has a market capitalization of £398.52 million, a P/E ratio of -6,126.67, a price-to-earnings-growth 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.