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

Gulf Keystone Petroleum Limited (LON:GKP)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 187.45 and traded as low as GBX 172. Gulf Keystone Petroleum shares last traded at GBX 174.40, with a volume of 621,989 shares.

Wall Street Analysts Forecast Growth

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

Gulf Keystone Petroleum Price Performance

The company’s 50-day moving average price is GBX 187.99 and its two-hundred day moving average price is GBX 187.45. The company has a market cap of £379.22 million, a P/E ratio of 26.11, a P/E/G ratio of 0.06 and a beta of 0.10. The company has a current ratio of 1.64, a quick ratio of 2.18 and a debt-to-equity ratio of 0.28.

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.