Gulf Keystone Petroleum (LON:GKP) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Gulf Keystone Petroleum Limited (LON:GKP) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 128.74 ($1.67) and traded as high as GBX 131.60 ($1.71). Gulf Keystone Petroleum shares last traded at GBX 128.70 ($1.67), with a volume of 780,512 shares trading hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 190 ($2.46) target price on shares of Gulf Keystone Petroleum in a research note on Tuesday, October 8th.

Gulf Keystone Petroleum Trading Down 0.6 %

The firm has a market cap of £278.61 million, a PE ratio of -4,303.33, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22. The company has a 50-day simple moving average of GBX 123.35 and a 200 day simple moving average of GBX 128.74. The company has a current ratio of 0.97, a quick ratio of 2.18 and a debt-to-equity ratio of 0.03.

Gulf Keystone Petroleum Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th were paid a dividend of $0.09 per share. This is a positive change from Gulf Keystone Petroleum’s previous dividend of $0.07. This represents a dividend yield of 5.54%. The ex-dividend date was Thursday, October 17th. Gulf Keystone Petroleum’s dividend payout ratio is presently -16,666.67%.

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.