Gulf Keystone Petroleum (LON:GKP) Shares Break Below 200-Day Moving Average – What’s Next?

Gulf Keystone Petroleum Limited (LON:GKP)’s share price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 189.93 and traded as low as GBX 186.90. Gulf Keystone Petroleum shares last traded at GBX 187, with a volume of 8,554,391 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on GKP. Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 275 price target on shares of Gulf Keystone Petroleum in a report on Wednesday, August 26th. Peel Hunt reissued a “buy” rating and issued a GBX 277 price objective on shares of Gulf Keystone Petroleum in a report on Monday, July 13th. Two analysts have rated the stock with a Buy rating. According to MarketBeat.com, Gulf Keystone Petroleum currently has a consensus rating of “Buy” and an average price target of GBX 276.

Gulf Keystone Petroleum Price Performance

The company has a quick ratio of 2.18, a current ratio of 2.00 and a debt-to-equity ratio of 0.25. The stock’s 50-day simple moving average is GBX 199.64 and its two-hundred day simple moving average is GBX 189.97. The company has a market capitalization of £414.01 million, a price-to-earnings ratio of 12.14, a PEG ratio of 0.06 and a beta of 0.12.

Insider Activity

In related news, insider Gabriel Papineau-Legris bought 10,000 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was acquired at an average price of GBX 197 per share, with a total value of £19,700. Also, insider David Howard Thomas purchased 2,461 shares of Gulf Keystone Petroleum stock in a transaction that occurred on Wednesday, October 21st. The shares were bought at an average price of GBX 203 per share, with a total value of £4,995.83. Insiders have purchased a total of 28,761 shares of company stock worth $6,698,183 over the last 90 days. 16.03% of the stock is currently owned by company insiders.

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. The company was incorporated in 2001 and is based in Hamilton, Bermuda.