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Gulf Keystone Petroleum

DB:GVP
Snowflake Description

Flawless balance sheet with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GVP
DB
£438M
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Gulf Keystone Petroleum Limited engages in the exploration, evaluation, and production of oil and gas properties in the Kurdistan Region of Iraq and the United Kingdom. The last earnings update was 95 days ago. More info.


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GVP Share Price and Events
7 Day Returns
0%
DB:GVP
0.9%
DE Oil and Gas
1%
DE Market
1 Year Returns
-
DB:GVP
60.5%
DE Oil and Gas
15.7%
DE Market
GVP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Gulf Keystone Petroleum (GVP) 0% 0% - - -13.5% -96.3%
DE Oil and Gas 0.9% 13.8% 28.2% 60.5% 57.2% 234.1%
DE Market 1% 1% 6.7% 15.7% 8.9% 18.3%
1 Year Return vs Industry and Market
  • No trading data on GVP.
  • No trading data on GVP.
Price Volatility
GVP
Industry
5yr Volatility vs Market

GVP Value

 Is Gulf Keystone Petroleum undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Gulf Keystone Petroleum to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Gulf Keystone Petroleum.

DB:GVP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-06-30) in USD $ 0.11427636363636
Payout Ratio Company Filings (2019-06-30) 0%
Discount Rate (Cost of Equity) See below 6.4%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:GVP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.5%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.95
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.945 (1 + (1- 21%) (16.8%))
1.047
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.047 * 6.51%)
6.43%

Discounted Cash Flow Calculation for DB:GVP using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Gulf Keystone Petroleum is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

DB:GVP Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= $0.11 / (6.43% - -0.39%)
$2.13
DB:GVP Discount to Share Price
Calculation Result
Exchange Rate USD/GBP
(Reporting currency to currency of LSE:GKP)
0.75
Value per Share
(GBP)
= Value per Share in USD x Exchange Rate (USD/GBP)
= $1.68 x 0.75
£1.26
Non-primary Listing Adjustment Factor 1 share in DB:GVP represents 1.30271x of LSE:GKP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.30271x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 1.26 x 1.30271
€1.64
Value per share (EUR) From above. €1.64
Current discount Discount to share price of €2.60
= -1 x (€2.60 - €1.64) / €1.64
-58.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Gulf Keystone Petroleum is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Gulf Keystone Petroleum's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Gulf Keystone Petroleum's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:GVP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $0.34
LSE:GKP Share Price ** LSE (2019-09-16) in GBP £1.99
LSE:GKP Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.334 $2.66
Europe Oil and Gas Industry PE Ratio Median Figure of 99 Publicly-Listed Oil and Gas Companies 10.28x
Germany Market PE Ratio Median Figure of 403 Publicly-Listed Companies 20.54x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Gulf Keystone Petroleum.

DB:GVP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:GKP Share Price ÷ EPS (both in USD)

= 2.66 ÷ 0.34

7.87x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gulf Keystone Petroleum is good value based on earnings compared to the Europe Oil and Gas industry average.
  • Gulf Keystone Petroleum is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Gulf Keystone Petroleum's expected growth come at a high price?
Raw Data
DB:GVP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.87x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
34.4%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 65 Publicly-Listed Oil and Gas Companies 0.76x
Germany Market PEG Ratio Median Figure of 262 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

DB:GVP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.87x ÷ 34.4%

0.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gulf Keystone Petroleum is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Gulf Keystone Petroleum's assets?
Raw Data
DB:GVP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $2.30
LSE:GKP Share Price * LSE (2019-09-16) in GBP £1.99
LSE:GKP Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.334 $2.66
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.12x
Germany Market PB Ratio Median Figure of 577 Publicly-Listed Companies 1.89x
DB:GVP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:GKP Share Price ÷ Book Value per Share (both in USD)

= 2.66 ÷ 2.30

1.15x

* Primary Listing of Gulf Keystone Petroleum.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gulf Keystone Petroleum is overvalued based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Gulf Keystone Petroleum's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Gulf Keystone Petroleum has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

GVP Future Performance

 How is Gulf Keystone Petroleum expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
34.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Gulf Keystone Petroleum expected to grow at an attractive rate?
  • Gulf Keystone Petroleum's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Gulf Keystone Petroleum's earnings growth is expected to exceed the Germany market average.
  • Gulf Keystone Petroleum's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:GVP Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:GVP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 34.4%
DB:GVP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 25.3%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 6.9%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.7%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:GVP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:GVP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 383 238 176 3
2020-12-31 306 166 104 4
2019-12-31 226 106 79 4
2019-12-14
DB:GVP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 230 152 77
2019-03-31 240 155 79
2018-12-31 251 158 80
2018-09-30 230 133 60
2018-06-30 210 107 40
2018-03-31 191 91 27
2017-12-31 172 76 14
2017-09-30 172 54 115
2017-06-30 171 33 216
2017-03-31 183 41 99
2016-12-31 194 50 -17
2016-09-30 176 48 -193

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Gulf Keystone Petroleum's earnings are expected to grow significantly at over 20% yearly.
  • Gulf Keystone Petroleum's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:GVP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Gulf Keystone Petroleum Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:GVP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.81 0.81 0.81 1.00
2020-12-31 0.46 0.50 0.41 2.00
2019-12-31 0.24 0.35 0.13 2.00
2019-12-14
DB:GVP Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 0.34
2019-03-31 0.34
2018-12-31 0.35
2018-09-30 0.26
2018-06-30 0.18
2018-03-31 0.12
2017-12-31 0.06
2017-09-30 0.58
2017-06-30 1.30
2017-03-31 0.89
2016-12-31 -0.31
2016-09-30 -5.84

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Gulf Keystone Petroleum will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Gulf Keystone Petroleum's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Gulf Keystone Petroleum has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

GVP Past Performance

  How has Gulf Keystone Petroleum performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Gulf Keystone Petroleum's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Gulf Keystone Petroleum has delivered over 20% year on year earnings growth in the past 5 years.
  • Gulf Keystone Petroleum's 1-year earnings growth exceeds its 5-year average (92.5% vs 52.4%)
  • Gulf Keystone Petroleum's earnings growth has exceeded the Europe Oil and Gas industry average in the past year (92.5% vs -2.6%).
Earnings and Revenue History
Gulf Keystone Petroleum's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Gulf Keystone Petroleum Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:GVP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 229.99 77.38 17.76
2019-03-31 240.27 78.63 17.59
2018-12-31 250.55 79.89 17.43
2018-09-30 230.39 60.04 18.20
2018-06-30 210.24 40.19 18.86
2018-03-31 191.30 27.16 19.87
2017-12-31 172.37 14.13 20.88
2017-09-30 171.51 114.95 19.95
2017-06-30 170.65 215.78 19.01
2017-03-31 182.53 99.17 21.97
2016-12-31 194.41 -17.44 24.92
2016-09-30 176.28 -193.13 26.47
2016-06-30 158.14 -368.83 28.01
2016-03-31 122.15 -291.40 29.14
2015-12-31 86.17 -213.96 30.27
2015-09-30 68.06 -255.04 31.50
2015-06-30 49.95 -296.12 32.74
2015-03-31 44.26 -272.16 35.53
2014-12-31 38.56 -248.20 38.32
2014-09-30 31.98 -141.77 38.29
2014-06-30 25.40 -35.34 38.27
2014-03-31 16.05 -33.65 36.14
2013-12-31 6.70 -31.97 34.02
2013-09-30 11.71 -54.41 36.75
2013-06-30 16.72 -76.86 39.48
2013-03-31 24.45 -79.34 47.03
2012-12-31 32.19 -81.82 54.58

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Gulf Keystone Petroleum has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Gulf Keystone Petroleum used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • Gulf Keystone Petroleum has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Gulf Keystone Petroleum's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Gulf Keystone Petroleum has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

GVP Health

 How is Gulf Keystone Petroleum's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Gulf Keystone Petroleum's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Gulf Keystone Petroleum is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Gulf Keystone Petroleum's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Gulf Keystone Petroleum's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Gulf Keystone Petroleum Company Filings, last reported 5 months ago.

DB:GVP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 527.80 97.99 302.70
2019-03-31 527.80 97.99 302.70
2018-12-31 552.82 97.80 295.57
2018-09-30 552.82 97.80 295.57
2018-06-30 498.79 97.38 219.03
2018-03-31 498.79 97.38 219.03
2017-12-31 471.89 97.07 160.46
2017-09-30 471.89 97.07 160.46
2017-06-30 456.51 99.31 118.85
2017-03-31 456.51 99.31 118.85
2016-12-31 453.77 98.89 92.87
2016-09-30 453.77 98.89 92.87
2016-06-30 184.96 554.05 74.75
2016-03-31 184.96 554.05 74.75
2015-12-31 166.66 544.54 43.64
2015-09-30 166.66 544.54 43.64
2015-06-30 302.95 535.59 67.53
2015-03-31 302.95 535.59 67.53
2014-12-31 339.61 527.35 87.84
2014-09-30 339.61 527.35 87.84
2014-06-30 558.75 519.57 223.51
2014-03-31 558.75 519.57 223.51
2013-12-31 562.37 296.73 81.97
2013-09-30 562.37 296.73 81.97
2013-06-30 557.16 246.17 141.16
2013-03-31 557.16 246.17 141.16
2012-12-31 577.69 243.50 262.31
  • Gulf Keystone Petroleum's level of debt (18.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (93.4% vs 18.6% today).
  • Debt is well covered by operating cash flow (155.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 11.9x coverage).
X
Financial health checks
We assess Gulf Keystone Petroleum's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Gulf Keystone Petroleum has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

GVP Dividends

 What is Gulf Keystone Petroleum's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Gulf Keystone Petroleum dividends. Estimated to be 4.3% next year.
If you bought €2,000 of Gulf Keystone Petroleum shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Gulf Keystone Petroleum's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Gulf Keystone Petroleum's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:GVP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 5.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 2.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.3%
Germany Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:GVP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.12 3.00
2020-12-31 0.08 4.00
2019-12-31 0.15 4.00
2019-12-14

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Gulf Keystone Petroleum has not reported any payouts.
  • Unable to verify if Gulf Keystone Petroleum's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Gulf Keystone Petroleum's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Gulf Keystone Petroleum has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (5.6x coverage).
X
Income/ dividend checks
We assess Gulf Keystone Petroleum's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Gulf Keystone Petroleum afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Gulf Keystone Petroleum has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

GVP Management

 What is the CEO of Gulf Keystone Petroleum's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jón Ferrier
COMPENSATION $973,000
AGE 61
TENURE AS CEO 4.5 years
CEO Bio

Mr. Jón Ferrier has been the Chief Executive Officer of Gulf Keystone Petroleum Limited since June 2015. Mr. Ferrier served as the Head of Business Development & Strategy at Mærsk Olie Og Gas A/S and also served as its Senior Vice President of Business Development, Strategy & Commercial. He served as a Country Manager of Petro-Canada (Suncor) Syria from 2008 to 2010 and Director of Business Development at Petro-Canada London, UK from 2006 to 2008. He served as Director of Business Development at Paladin Resources plc Norway/London from 2003 to 2006 and Project Director of ConocoPhillips Moscow, RUS from 2001 to 2003. He worked as Business Development executive of ConocoPhillips London, UK from 1999 to 2001 and Strategy & Portfolio Management executive at Conoco UK Ltd Aberdeen, UK from 1997 to 1999. He served as Geologist of Conoco Norway Inc Stavanger from 1991 to 1997, Exploration Executive Vice President, support of Conoco Inc Houston, USA from 1989 to 1990, Development Geologist of Conoco UK Ltd London, UK from 1985 to 1989 and Exploration Geologist of Anglo American South Africa from 1979 to 1985. Mr. Ferrier has considerable international experience, including in the Kurdistan Region of Iraq and has successfully led the delivery of complex projects on time and within budget in the Middle East. He attended JMW, “Manager of the Future” programme in 2002; and IMD, Managing Corporate Resources in 1999. He has been a Director of Gulf Keystone Petroleum Limited since December 08, 2015. Mr. Ferrier holds M.Sc. in Mineral Exploration from Royal School of Mines, Imperial College, London in 1983 and B.Sc. in Geology from University of Wales Aberystwyth in 1979.

CEO Compensation
  • Jón's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jón's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Gulf Keystone Petroleum management team in years:

3.2
Average Tenure
52
Average Age
  • The tenure for the Gulf Keystone Petroleum management team is about average.
Management Team

Jón Ferrier

TITLE
CEO & Director
COMPENSATION
$973K
AGE
61
TENURE
4.5 yrs

Sami Zouari

TITLE
Executive Officer
COMPENSATION
$667K
AGE
46

Stuart Catterall

TITLE
Chief Operating Officer
TENURE
2.9 yrs

Alasdair Robinson

TITLE
Legal Director & Company Secretary
TENURE
2.5 yrs

Jane Barker

TITLE
HR Director
TENURE
3.4 yrs

Nadhim Zahawi

TITLE
Chief Strategy Officer
AGE
52
TENURE
4.3 yrs

Nadzeya Kernoha

TITLE
Head of Finance
TENURE
0.9 yrs
Board of Directors Tenure

Average tenure and age of the Gulf Keystone Petroleum board of directors in years:

1.7
Average Tenure
61
Average Age
  • The average tenure for the Gulf Keystone Petroleum board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jaap Huijskes

TITLE
Non-Executive Chairman
COMPENSATION
$159K
AGE
54
TENURE
1.7 yrs

Jón Ferrier

TITLE
CEO & Director
COMPENSATION
$973K
AGE
61
TENURE
4 yrs

Martin Angle

TITLE
Senior Independent Non-Executive Director
COMPENSATION
$42K
AGE
69
TENURE
1.4 yrs

Dave Thomas

TITLE
Non-Executive Director
COMPENSATION
$90K
AGE
62
TENURE
3.2 yrs

Kimberley Wood

TITLE
Non-Executive Director
COMPENSATION
$18K
AGE
49
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Gulf Keystone Petroleum's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Gulf Keystone Petroleum has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

GVP News

Simply Wall St News

GVP Company Info

Description

Gulf Keystone Petroleum Limited engages in the exploration, evaluation, and production of oil and gas properties in the Kurdistan Region of Iraq and the United Kingdom. The company’s principal asset is Shaikan block that covers an area of 283 square kilometers located north-west of Erbil. It also provides geophysical and engineering services. Gulf Keystone Petroleum Limited was founded in 2001 and is based in Hamilton, Bermuda.

Details
Name: Gulf Keystone Petroleum Limited
GVP
Exchange: DB
Founded: 2001
£525,547,493
220,061,025
Website: http://www.gulfkeystone.com
Address: Gulf Keystone Petroleum Limited
Cumberland House,
9th Floor,
Hamilton,
HM 11,
Bermuda
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE GKP Common Shares London Stock Exchange GB GBP 08. Sep 2004
OTCPK GUKY.F Common Shares Pink Sheets LLC US USD 08. Sep 2004
DB GVP Common Shares Deutsche Boerse AG DE EUR 08. Sep 2004
BATS-CHIXE GKPL Common Shares BATS 'Chi-X Europe' GB GBP 08. Sep 2004
OTCPK GFKS.Y SPONSORED ADR Pink Sheets LLC US USD 05. Dec 2008
LSE GKP COM SHS USD1.00 (DI) London Stock Exchange GB GBP 14. Dec 2019
Number of employees
Current staff
Staff numbers
371
Gulf Keystone Petroleum employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/14 21:23
End of day share price update: 2019/09/16 00:00
Last estimates confirmation: 2019/12/13
Last earnings filing: 2019/09/10
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.