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

Gulf Keystone Petroleum Limited (LON:GKP)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 153.29 ($2.01) and traded as high as GBX 197.81 ($2.59). Gulf Keystone Petroleum shares last traded at GBX 193 ($2.53), with a volume of 308,050 shares changing hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped their target price on Gulf Keystone Petroleum from GBX 200 ($2.62) to GBX 225 ($2.95) and gave the company a “speculative buy” rating in a report on Thursday, March 20th.

Gulf Keystone Petroleum Trading Down 9.4 %

The firm’s 50-day simple moving average is GBX 185.66 and its 200 day simple moving average is GBX 154.20. The stock has a market cap of £468.15 million, a P/E ratio of -61.26, 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 firm also recently disclosed a dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.12 dividend. This represents a yield of 4.37%. This is a positive change from Gulf Keystone Petroleum’s previous dividend of $0.09. The ex-dividend date is Thursday, April 3rd. Gulf Keystone Petroleum’s dividend payout ratio 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.