Gulf Keystone Petroleum (LON:GKP) Share Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Gulf Keystone Petroleum Limited (LON:GKP) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 132.48 ($1.66) and traded as high as GBX 140 ($1.76). Gulf Keystone Petroleum shares last traded at GBX 137 ($1.72), with a volume of 415,146 shares.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 190 ($2.38) target price on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th.

Gulf Keystone Petroleum Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 2.18. The company has a market capitalization of £297.04 million, a price-to-earnings ratio of -4,566.67, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22. The firm’s 50-day simple moving average is GBX 136.50 and its two-hundred day simple moving average is GBX 132.48.

Gulf Keystone Petroleum Increases Dividend

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

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.