Tullow Oil (LON:TLW) Trading Up 23.1% – Here’s What Happened

by · The Cerbat Gem

Tullow Oil plc (LON:TLW – Get Free Report) traded up 23.1% on Wednesday . The company traded as high as GBX 4.90 and last traded at GBX 4.80. 38,513,406 shares changed hands during mid-day trading, an increase of 266% from the average session volume of 10,528,255 shares. The stock had previously closed at GBX 3.90.

Analyst Ratings Changes

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

Get Our Latest Analysis on TLW

Tullow Oil Stock Performance

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. The company has a market cap of £70.32 million, a PE ratio of -0.34, a PEG ratio of -0.19 and a beta of 2.08. The business’s 50 day moving average is GBX 9.62 and its two-hundred day moving average is GBX 12.56.

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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