Tullow Oil (LON:TLW) Stock Price Up 24.2% – What’s Next?

by · The Cerbat Gem

Tullow Oil plc (LON:TLW – Get Free Report)’s share price shot up 24.2% on Monday . The company traded as high as GBX 6.10 and last traded at GBX 6. 26,866,404 shares changed hands during trading, an increase of 151% from the average session volume of 10,695,014 shares. The stock had previously closed at GBX 4.83.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TLW shares. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Panmure Gordon reduced their price objective on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research note on Monday, November 24th. Canaccord Genuity Group lowered their target price on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research report on Thursday, August 7th. Finally, Jefferies Financial Group reduced their price target on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research report on Monday, October 20th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of GBX 12.85.

Check Out Our Latest Analysis on TLW

Tullow Oil Trading Up 24.2%

The company has a 50-day moving average price of GBX 9.27 and a two-hundred day moving average price of GBX 12.35. The stock has a market cap of £87.90 million, a P/E ratio of -0.43, a P/E/G ratio of -0.19 and a beta of 2.08. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31.

Tullow Oil Company Profile

(Get Free Report)

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. The Company’s operations are focused on its West-African producing assets in Ghana, Gabon and Côte d’Ivoire, alongside a material discovered resource base in Kenya. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030 and has a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations.

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