Tullow Oil (LON:TLW) Stock Price Up 23.1% – Should You Buy?

by · The Markets Daily

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Panmure Gordon dropped their target price on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a report on Monday. Jefferies Financial Group decreased their price target 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. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Finally, Canaccord Genuity Group lowered their price target 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 research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of GBX 12.85.

Read Our Latest Stock Analysis on TLW

Tullow Oil Stock Up 23.1%

The firm has a market capitalization of £70.32 million, a price-to-earnings ratio of -0.34, a P/E/G ratio of -0.19 and a beta of 2.08. 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 is GBX 9.50 and its two-hundred day moving average is GBX 12.51.

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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