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

Shares of Gulf Keystone Petroleum Limited (LON:GKP) shot up 11.7% 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 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).

Analyst Ratings Changes

Several research firms have recently commented on GKP. Canaccord Genuity Group reaffirmed 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 boosted their price target on 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 Trading Down 2.6 %

The firm has a market capitalization of £398.52 million, a price-to-earnings ratio of -6,126.67, a P/E/G ratio of 0.06 and a beta of 1.22. The business has a 50 day moving average of GBX 151.76 and a two-hundred day moving average of GBX 136.07. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.18 and a current ratio of 0.97.

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.