Gulf Keystone Petroleum (LON:GKP) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Shares of Gulf Keystone Petroleum Limited (LON:GKP) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 187.53 and traded as low as GBX 176.40. Gulf Keystone Petroleum shares last traded at GBX 178.40, with a volume of 1,008,565 shares.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their price target on shares of Gulf Keystone Petroleum from GBX 240 to GBX 280 and gave the company a “speculative buy” rating in a report on Friday, March 20th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Gulf Keystone Petroleum presently has a consensus rating of “Buy” and a consensus price target of GBX 272.

Gulf Keystone Petroleum Trading Up 0.2%

The company’s fifty day moving average price is GBX 196.13 and its two-hundred day moving average price is GBX 187.53. The company has a current ratio of 1.64, a quick ratio of 2.18 and a debt-to-equity ratio of 0.28. The firm has a market cap of £388.79 million, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 0.06 and a beta of 0.11.

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. The company was incorporated in 2001 and is based in Hamilton, Bermuda.