Gulf Keystone Petroleum (LON:GKP) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Gulf Keystone Petroleum Limited (LON:GKP) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 187.47 and traded as high as GBX 201. Gulf Keystone Petroleum shares last traded at GBX 197.80, with a volume of 1,115,207 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 275 price target on shares of Gulf Keystone Petroleum in a report on Wednesday, August 26th. Peel Hunt reiterated a “buy” rating and issued a GBX 277 price objective on shares of Gulf Keystone Petroleum in a report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of GBX 276.

Gulf Keystone Petroleum Trading Down 1.2%

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.00 and a quick ratio of 2.18. The firm has a market cap of £412.71 million, a PE ratio of 28.41, a price-to-earnings-growth ratio of 0.06 and a beta of 0.12. The company’s 50 day moving average price is GBX 177.76 and its 200 day moving average price is GBX 187.43.

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.