Gulf Keystone Petroleum (LON:GKP) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Gulf Keystone Petroleum Limited (LON:GKP) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 132.56 ($1.68) and traded as high as GBX 140 ($1.78). Gulf Keystone Petroleum shares last traded at GBX 137 ($1.74), with a volume of 429,891 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 190 ($2.41) price objective on shares of Gulf Keystone Petroleum in a research report on Tuesday, October 8th.

Gulf Keystone Petroleum Price Performance

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 stock has a market cap of £297.04 million, a PE ratio of -4,566.67, a PEG ratio of 0.06 and a beta of 1.22. The stock has a 50 day moving average of GBX 136.43 and a two-hundred day moving average of GBX 132.56.

Gulf Keystone Petroleum Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, October 17th. This represents a dividend yield of 5.54%. This is a positive change from Gulf Keystone Petroleum’s previous dividend of $0.07. Gulf Keystone Petroleum’s payout ratio is currently -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.