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

Gulf Keystone Petroleum Limited (LON:GKP)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 187.74 and traded as low as GBX 174.80. Gulf Keystone Petroleum shares last traded at GBX 175.60, with a volume of 3,316,666 shares.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group increased their price objective 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 investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of GBX 272.

Gulf Keystone Petroleum Price Performance

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 £381.83 million, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 0.06 and a beta of 0.10. The company’s 50-day moving average is GBX 183.08 and its 200-day moving average is GBX 187.74.

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.