Gulf Keystone Petroleum (LON:GKP) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Gulf Keystone Petroleum Limited (LON:GKP)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 178.75 and traded as low as GBX 178.12. Gulf Keystone Petroleum shares last traded at GBX 182.40, with a volume of 517,088 shares.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GKP. Canaccord Genuity Group raised their price target on shares of Gulf Keystone Petroleum from GBX 210 to GBX 250 and gave the company a “speculative buy” rating in a report on Tuesday, September 30th. Peel Hunt raised their target price on Gulf Keystone Petroleum from GBX 247 to GBX 264 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of GBX 257.

Gulf Keystone Petroleum Trading Up 2.2%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.18 and a current ratio of 0.97. The business’s 50 day moving average price is GBX 175.21 and its 200-day moving average price is GBX 178.97. The firm has a market cap of £404.12 million, a price-to-earnings ratio of -490.53, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22.

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.