Gulf Keystone Petroleum (LON:GKP) Stock Passes Above 200 Day Moving Average - Here's Why

Shares of Gulf Keystone Petroleum Limited (LON:GKP - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 132.48 ($1.66) and traded as high as GBX 140 ($1.76). Gulf Keystone Petroleum shares last traded at GBX 137 ($1.72), with a volume of 415,146 shares traded.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reaffirmed a "speculative buy" rating and set a GBX 190 ($2.38) target price on shares of Gulf Keystone Petroleum in a research report on Tuesday, October 8th.

Gulf Keystone Petroleum Price Performance

The firm has a market cap of £297.04 million, a PE ratio of -4,566.67, a P/E/G ratio of 0.06 and a beta of 1.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 2.18. The business's fifty day moving average is GBX 136.65 and its 200-day moving average is GBX 132.48.

Gulf Keystone Petroleum Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, October 17th. This represents a dividend yield of 5.54%. This is a positive change from Gulf Keystone Petroleum's previous dividend of $0.07. Gulf Keystone Petroleum's dividend payout ratio (DPR) is presently -16,666.67%.

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.