Gulf Keystone Petroleum (LON:GKP) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

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 187.76 and traded as low as GBX 168. Gulf Keystone Petroleum shares last traded at GBX 173.60, with a volume of 2,348,600 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group raised 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 report on Friday, March 20th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of GBX 272.

Gulf Keystone Petroleum Stock Up 0.4%

The firm has a 50 day moving average of GBX 181.03 and a 200 day moving average of GBX 187.76. The firm has a market cap of £376.61 million, a price-to-earnings ratio of 25.93, a PEG ratio of 0.06 and a beta of 0.12. The company has a quick ratio of 2.18, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

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.