Gulf Keystone Petroleum Shares Forecast September 2021 – Time to Buy GKP?
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The art of compounding wealth when you are involved with the share market is quite difficult but not impossible. Investors spend years trying to perfect their choices and factors based on which they choose to invest in a certain well-performing share. Another way to win the share market is through boost returns by selecting market-beating companies and own their shares. Your portfolio must include at least one such investment whose long-term returns benefit you in the future when the overall market dynamics are below satisfactory. Gulf keystone petroleum is an example of such a market-beating share for September 2021 and in this article, we will figure out why it is time to buy GKP.
Gulf Keystone Petroleum – Technical Analysis
The company recently shared its return to profit in the first half of 2021 after they benefitted from oil production. This company is an active player within the energy mineral sector that independently explores and produces oil and gas. Its primary operational areas are in the Kurdish region of Iraq and also the Republic of Algeria.
According to the financial data regarding revenue growth and performance, GKP managed to shrink its revenue in 2020 by approximately 47% and yet these shares returned up to 73% in June 2021. The total market capitalisation of Gulf Keystone Petroleum is currently £329.8 million with total outstanding shares of £212.2 million and debt of £73.4 million. Now with enhanced operational and financial performance, it makes sense why GKP is surging.
A glance at the technical aspects of the Gulf Keystone Petroleum shares reveals that there is a clear indication of it being in a strong buy zone. Most-utilised oscillators and moving averages such as MACD (-1.8), RSI (63.3), SMA (156.2), and EMA (159.8) indicate a buy price action for investors who are looking for an opportunity to best the market and gain an upper hand with Gulf Keystone Petroleum.
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Recent Developments
The oil and gas exploration and production company has stayed quite busy during the past few months as it made some significant purchases that ultimately rewarded its existing shareholders with more than 70% returns. For obvious reasons, long-term does seem cautious for GKP but for a short-term position, these shares offer a worthwhile investment opportunity.
Some insider buying also helped the Gulf Keystone Petroleum to come out from a losing scenario which could have proven to be disastrous for the company. The biggest insider purchase was made by GKP CEO and Director Jon Harris. Harris bought £51K worth of GKP shares paying £1.2 more per share. As of yesterday GKP shares closed at £176.8 with a 13.9% increase that eventually put the company among one of the top gainers for the day.
Reasons to Buy GKP Shares
Insider buying at a higher price is a clear indication of people being bullish about the company and what is to come. Gulf Keystone Petroleum has seen insider buying even before the CEO & Director took part in it. The last year remained a challenging one for almost all companies active in the energy minerals sectors. That is why it is no surprise that GKP was also one of the shares that experienced revenue loss.
But what matters is how the company pulls through in the current situation when pandemic effects are wearing off from the market.
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