Gulf Keystone Petroleum (LON:GKP) Stock Passes Below 200 Day Moving Average – Should You Sell?

Gulf Keystone Petroleum Limited (LON:GKP) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 187.74 and traded as low as GBX 174.80. Gulf Keystone Petroleum shares last traded at GBX 175.60, with a volume of 3,316,666 shares trading hands.

Analyst Ratings Changes

Separately, Canaccord Genuity Group increased their price target on Gulf Keystone Petroleum from GBX 240 to GBX 280 and gave the company a “speculative buy” rating in a research note on Friday, March 20th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of GBX 272.

Gulf Keystone Petroleum Stock Performance

The firm has a market capitalization of £378.35 million, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 0.06 and a beta of 0.10. The company’s 50 day moving average is GBX 182.65 and its 200-day moving average is GBX 187.76. The company has a quick ratio of 2.18, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

About Gulf Keystone Petroleum

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.