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

Shares of Gulf Keystone Petroleum Limited (LON:GKP) reached a new 52-week high on Tuesday . The stock traded as high as GBX 209.80 ($2.71) and last traded at GBX 209.40 ($2.71), with a volume of 492668 shares trading hands. The stock had previously closed at GBX 202.80 ($2.62).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their target price on shares of Gulf Keystone Petroleum from GBX 200 ($2.58) to GBX 225 ($2.91) and gave the stock a “speculative buy” rating in a report on Thursday, March 20th.

Gulf Keystone Petroleum Stock Up 3.3 %

The business’s 50 day moving average is GBX 180.50 and its 200 day moving average is GBX 150.19. The company has a quick ratio of 2.18, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. The company has a market cap of £569.28 million, a P/E ratio of -74.50, a P/E/G ratio of 0.06 and a beta of 1.22.

Gulf Keystone Petroleum Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a dividend of $0.12 per share. This is a boost from Gulf Keystone Petroleum’s previous dividend of $0.09. This represents a dividend yield of 4.37%. The ex-dividend date is Thursday, April 3rd. Gulf Keystone Petroleum’s dividend payout ratio is -177.88%.

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.