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

Gulf Keystone Petroleum Limited (LON:GKP - Get Free Report) traded up 11.7% on Tuesday . The company traded as high as GBX 193.85 ($2.40) and last traded at GBX 190.60 ($2.36). 2,671,702 shares traded hands during mid-day trading, an increase of 156% from the average session volume of 1,043,470 shares. The stock had previously closed at GBX 170.60 ($2.12).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lifted their price objective on shares of Gulf Keystone Petroleum from GBX 185 ($2.30) to GBX 200 ($2.48) and gave the stock a "speculative buy" rating in a research note on Thursday, January 23rd.

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 firm's fifty day moving average price is GBX 152.45 and its 200 day moving average price is GBX 136.38. The firm has a market capitalization of £389.84 million, a PE ratio of -5,993.33, a PEG ratio of 0.06 and a beta of 1.22.

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.