Canaccord Genuity Group Increases Gulf Keystone Petroleum (LON:GKP) Price Target to GBX 280

Gulf Keystone Petroleum (LON:GKP) had its price objective raised by Canaccord Genuity Group from GBX 240 to GBX 280 in a research report issued on Friday, Marketbeat.com reports. The firm presently has a “speculative buy” rating on the oil production company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 23.89% from the stock’s current price.

Gulf Keystone Petroleum Stock Performance

GKP traded down GBX 6 during trading on Friday, reaching GBX 226. 1,627,257 shares of the company’s stock were exchanged, compared to its average volume of 1,179,163. The company has a market capitalization of £491.20 million, a P/E ratio of -594.74, a PEG ratio of 0.06 and a beta of 0.18. The company has a quick ratio of 2.18, a current ratio of 1.28 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of GBX 192.40 and a 200 day moving average price of GBX 185.71. Gulf Keystone Petroleum has a fifty-two week low of GBX 143.15 and a fifty-two week high of GBX 235.

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.