Gulf Keystone Petroleum (LON:GKP) Hits New 52-Week High – Time to Buy?

Gulf Keystone Petroleum Limited (LON:GKP)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 164.34 ($2.01) and last traded at GBX 163.90 ($2.01), with a volume of 1159801 shares traded. The stock had previously closed at GBX 157 ($1.92).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 190 ($2.32) price target on shares of Gulf Keystone Petroleum in a research report on Tuesday, October 8th.

Gulf Keystone Petroleum Trading Up 2.6 %

The company has a market capitalization of £369.89 million, a P/E ratio of -5,686.67, a PEG ratio of 0.06 and a beta of 1.22. 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 business’s 50-day moving average price is GBX 144.42 and its two-hundred day moving average price is GBX 133.81.

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.