Gulf Keystone Petroleum (LON:GKP) Share Price Passes Above 200 Day Moving Average – What’s Next?

Gulf Keystone Petroleum Limited (LON:GKP)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 129.47 ($1.69) and traded as high as GBX 137.40 ($1.79). Gulf Keystone Petroleum shares last traded at GBX 135.20 ($1.76), with a volume of 1,110,942 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 190 ($2.47) price target on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th.

Gulf Keystone Petroleum Stock Performance

The company’s 50-day simple moving average is GBX 123.84 and its 200-day simple moving average is GBX 129.47. The stock has a market capitalization of £295.09 million, a price-to-earnings ratio of -4,506.67, a PEG ratio of 0.06 and a beta of 1.22. The company has a current ratio of 0.97, a quick ratio of 2.18 and a debt-to-equity ratio of 0.03.

Gulf Keystone Petroleum Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 17th were issued a $0.09 dividend. This represents a yield of 5.54%. This is an increase from Gulf Keystone Petroleum’s previous dividend of $0.07. The ex-dividend date was Thursday, October 17th. Gulf Keystone Petroleum’s dividend payout ratio is presently -16,666.67%.

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.