Tullow Oil (LON:TLW) Trading Up 24.2% – Here’s What Happened

by · The Cerbat Gem

Shares of Tullow Oil plc (LON:TLW – Get Free Report) traded up 24.2% during trading on Monday . The company traded as high as GBX 6.10 and last traded at GBX 6. 26,866,404 shares traded hands during mid-day 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

A number of equities analysts have weighed in on TLW shares. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Panmure Gordon cut their price target 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. Jefferies Financial Group lowered their price objective on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research note on Monday, October 20th. Finally, 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 report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Tullow Oil currently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

View Our Latest Stock Report on TLW

Tullow Oil Trading Up 24.2%

The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70. The business’s 50 day moving average price is GBX 9.27 and its 200-day moving average price is GBX 12.35. The firm has a market cap of £87.90 million, a price-to-earnings ratio of -0.43, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08.

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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