Gulf Keystone Petroleum (LON:GKP) Stock Crosses Below 200-Day Moving Average – Time to Sell?

Gulf Keystone Petroleum Limited (LON:GKP) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 187.76 and traded as low as GBX 168. Gulf Keystone Petroleum shares last traded at GBX 173.60, with a volume of 2,348,600 shares changing hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their target price on Gulf Keystone Petroleum from GBX 240 to GBX 280 and gave the company a “speculative buy” rating in a research report on Friday, March 20th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of GBX 272.

Gulf Keystone Petroleum Trading Up 0.4%

The company has a quick ratio of 2.18, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is GBX 181.03 and its 200 day moving average price is GBX 187.76. The company has a market capitalization of £376.61 million, a P/E ratio of 25.93, a P/E/G ratio of 0.06 and a beta of 0.12.

Gulf Keystone Petroleum Company Profile

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. The company was incorporated in 2001 and is based in Hamilton, Bermuda.