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

Shares of Gulf Keystone Petroleum Limited (LON:GKP) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 127.40 ($1.66) and traded as high as GBX 133.30 ($1.74). Gulf Keystone Petroleum shares last traded at GBX 129.80 ($1.69), with a volume of 1,287,586 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 190 ($2.48) price target on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th.

Gulf Keystone Petroleum Trading Up 0.8 %

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 £283.65 million, a price-to-earnings ratio of -4,326.67, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22. The business has a fifty day moving average price of GBX 122.52 and a 200 day moving average price of GBX 127.40.

Gulf Keystone Petroleum Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be issued a $0.09 dividend. The ex-dividend date is Thursday, October 17th. This is a boost from Gulf Keystone Petroleum’s previous dividend of $0.07. This represents a dividend yield of 5.54%. Gulf Keystone Petroleum’s dividend payout ratio is presently -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.