Gulf Keystone Petroleum (LON:GKP) Hits New 12-Month High – Time to Buy?

Gulf Keystone Petroleum Limited (LON:GKP) shares hit a new 52-week high on Friday . The stock traded as high as GBX 161.20 ($2.00) and last traded at GBX 161 ($2.00), with a volume of 1346348 shares traded. The stock had previously closed at GBX 153.30 ($1.90).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 190 ($2.36) price objective on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th.

Gulf Keystone Petroleum Trading Up 5.0 %

The company has a current ratio of 0.97, a quick ratio of 2.18 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of £349.08 million, a P/E ratio of -5,366.67, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22. The company has a 50-day moving average price of GBX 139.20 and a 200 day moving average price of GBX 132.94.

Gulf Keystone Petroleum Increases Dividend

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