Gulf Keystone Petroleum (LON:GKP) Trading 11.7% Higher - Time to Buy?

Gulf Keystone Petroleum Limited (LON:GKP - Get Free Report) was up 11.7% during mid-day trading on Monday . The company traded as high as GBX 193.85 ($2.40) and last traded at GBX 190.60 ($2.36). Approximately 2,671,702 shares changed hands during trading, an increase of 156% from the average daily 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 raised their target price 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 report on Thursday, January 23rd.

Gulf Keystone Petroleum Stock Performance

The stock's 50-day moving average is GBX 152.45 and its 200-day moving average is GBX 136.38. The stock has a market cap of £389.84 million, a price-to-earnings ratio of -5,993.33, a price-to-earnings-growth 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.

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.