Gulf Keystone Petroleum (LON:GKP) Hits New 1-Year High – What’s Next?

Shares of Gulf Keystone Petroleum Limited (LON:GKP) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 209.80 ($2.70) and last traded at GBX 209.40 ($2.70), with a volume of 492668 shares. The stock had previously closed at GBX 202.80 ($2.61).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their price objective on Gulf Keystone Petroleum from GBX 200 ($2.57) to GBX 225 ($2.90) and gave the company a “speculative buy” rating in a report on Thursday, March 20th.

Gulf Keystone Petroleum Price Performance

The company has a quick ratio of 2.18, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. The firm has a market cap of £557.32 million, a PE ratio of -72.93, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22. The stock has a 50 day moving average price of GBX 181.34 and a two-hundred day moving average price of GBX 150.83.

Gulf Keystone Petroleum Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Gulf Keystone Petroleum’s previous dividend of $0.09. This represents a yield of 4.37%. Gulf Keystone Petroleum’s dividend payout ratio (DPR) is -177.88%.

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.