Gulf Keystone Petroleum (LON:GKP) Shares Cross Below 200 Day Moving Average – What’s Next?

Shares of Gulf Keystone Petroleum Limited (LON:GKP) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 177.92 and traded as low as GBX 171. Gulf Keystone Petroleum shares last traded at GBX 176, with a volume of 392,461 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have commented on GKP. Canaccord Genuity Group raised their price objective on 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. Peel Hunt increased their price target on shares of Gulf Keystone Petroleum from GBX 247 to GBX 264 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of GBX 257.

Gulf Keystone Petroleum Trading Down 1.7%

The business has a 50-day moving average of GBX 175.11 and a 200-day moving average of GBX 177.92. The company has a quick ratio of 2.18, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. The stock has a market cap of £375.07 million, a price-to-earnings ratio of -455.26, 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. The company was incorporated in 2001 and is based in Hamilton, Bermuda.