Gulf Keystone Petroleum (LON:GKP) Shares Cross Below 200 Day Moving Average – Here’s Why

Gulf Keystone Petroleum Limited (LON:GKP)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 174.98 and traded as low as GBX 171.60. Gulf Keystone Petroleum shares last traded at GBX 175.60, with a volume of 423,207 shares changing hands.

Analyst Ratings Changes

Several brokerages recently issued reports on GKP. Peel Hunt upped their price target on Gulf Keystone Petroleum from GBX 247 to GBX 264 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Shore Capital reiterated a “no recommendation” rating on shares of Gulf Keystone Petroleum in a research note on Thursday, August 28th. Finally, Canaccord Genuity Group lifted their target price on shares of Gulf Keystone Petroleum from GBX 210 to GBX 250 and gave the stock a “speculative buy” rating in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Gulf Keystone Petroleum currently has a consensus rating of “Buy” and a consensus price target of GBX 257.

Gulf Keystone Petroleum Price Performance

The firm’s 50 day moving average price is GBX 184.90 and its two-hundred day moving average price is GBX 174.98. 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 stock has a market cap of £380.71 million, a PE ratio of -462.11, a P/E/G 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.