Gulf Keystone Petroleum (LON:GKP) Shares Cross Above 200-Day Moving Average – Should You Sell?

Gulf Keystone Petroleum Limited (LON:GKP) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 153.29 ($1.98) and traded as high as GBX 197.81 ($2.56). Gulf Keystone Petroleum shares last traded at GBX 193 ($2.50), with a volume of 308,050 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group boosted their price target on shares of Gulf Keystone Petroleum from GBX 200 ($2.59) to GBX 225 ($2.91) and gave the company a “speculative buy” rating in a report on Thursday, March 20th.

Gulf Keystone Petroleum Price Performance

The firm has a 50-day simple moving average of GBX 184.19 and a 200-day simple moving average of GBX 153.29. The firm has a market cap of £524.69 million, a P/E ratio of -68.66, 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 will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a yield of 4.37%. This is an increase from Gulf Keystone Petroleum’s previous dividend of $0.09. Gulf Keystone Petroleum’s dividend payout ratio (DPR) is presently -177.88%.

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.