Gulf Keystone Petroleum (LON:GKP) Reaches New 1-Year High – Here’s What Happened

Shares of Gulf Keystone Petroleum Limited (LON:GKP) reached a new 52-week high during trading on Friday . The company traded as high as GBX 161.20 ($2.00) and last traded at GBX 161 ($2.00), with a volume of 1346348 shares traded. The stock had previously closed at GBX 153.30 ($1.90).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 190 ($2.36) price target on shares of Gulf Keystone Petroleum in a research note on Tuesday, October 8th.

Gulf Keystone Petroleum Price Performance

The stock has a 50 day moving average of GBX 139.20 and a 200-day moving average of GBX 132.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.18 and a current ratio of 0.97. The company has a market cap of £349.08 million, a PE ratio of -5,366.67, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22.

Gulf Keystone Petroleum Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th were paid a $0.09 dividend. This represents a dividend yield of 5.54%. This is a boost from Gulf Keystone Petroleum’s previous dividend of $0.07. The ex-dividend date was Thursday, October 17th. Gulf Keystone Petroleum’s dividend payout ratio (DPR) 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.