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

Shares of Gulf Keystone Petroleum Limited (LON:GKP) traded up 11.7% on Monday . The stock 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 Analysts Forecast Growth

A number of research firms have recently issued reports on GKP. Canaccord Genuity Group raised their price target 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 research report on Thursday, January 23rd. Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 190 ($2.38) price target on shares of Gulf Keystone Petroleum in a research report on Tuesday, October 8th.

Gulf Keystone Petroleum Stock Performance

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 market capitalization 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’s 50-day moving average is GBX 151.76 and its two-hundred 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.