Gulf Keystone Petroleum (LON:GKP) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

Gulf Keystone Petroleum Limited (LON:GKP) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 186.70 and traded as low as GBX 185. Gulf Keystone Petroleum shares last traded at GBX 187, with a volume of 348,030 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their target price on shares of Gulf Keystone Petroleum from GBX 240 to GBX 280 and gave the company 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 MarketBeat.com, Gulf Keystone Petroleum currently has an average rating of “Buy” and an average price target of GBX 272.

Gulf Keystone Petroleum Price Performance

The stock has a market cap of £406.62 million, a PE ratio of 27.99, a price-to-earnings-growth ratio of 0.06 and a beta of 0.11. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.18 and a current ratio of 1.64. The company’s 50-day moving average price is GBX 197.86 and its 200 day moving average price is GBX 186.70.

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.