Gulf Keystone Petroleum (LON:GKP) Stock Price Down 2.6% – Here’s Why

Gulf Keystone Petroleum Limited (LON:GKP) fell 2.6% during mid-day trading on Friday . The company traded as low as GBX 137.10 ($1.75) and last traded at GBX 139.10 ($1.77). 691,766 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 1,021,636 shares. The stock had previously closed at GBX 142.80 ($1.82).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 190 ($2.42) price objective on shares of Gulf Keystone Petroleum in a report on Tuesday, October 8th.

Gulf Keystone Petroleum Trading Down 2.6 %

The firm has a market cap of £301.60 million, a P/E ratio of -4,636.67, a P/E/G ratio of 0.06 and a beta of 1.22. The stock has a 50 day simple moving average of GBX 134.24 and a 200-day simple moving average of GBX 132.52. 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 firm also recently declared a dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 17th were given a $0.09 dividend. This represents a yield of 5.54%. The ex-dividend date was Thursday, October 17th. This is a boost from Gulf Keystone Petroleum’s previous dividend of $0.07. Gulf Keystone Petroleum’s payout ratio is currently -16,666.67%.

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.