Tullow Oil (LON:TLW) Trading 20.5% Higher – Here’s Why

by · The Markets Daily

Tullow Oil plc (LON:TLW – Get Free Report)’s stock price was up 20.5% on Wednesday . The stock traded as high as GBX 4.90 and last traded at GBX 4.70. Approximately 34,904,527 shares changed hands during trading, an increase of 232% from the average daily volume of 10,512,564 shares. The stock had previously closed at GBX 3.90.

Analysts Set New Price Targets

Several research analysts have commented on TLW shares. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Jefferies Financial Group cut their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research note on Monday, October 20th. Canaccord Genuity Group decreased their price target on shares of 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, Panmure Gordon cut their price target on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a report on Monday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of GBX 12.85.

Check Out Our Latest Analysis on TLW

Tullow Oil Price Performance

The company has a market capitalization of £68.86 million, a P/E ratio of -0.34, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The business’s 50-day moving average price is GBX 9.62 and its 200 day moving average price is GBX 12.56. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31.

About Tullow Oil

(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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