Tullow Oil (LON:TLW) Trading 10.4% Higher – Should You Buy?

Tullow Oil plc (LON:TLW) shares traded up 10.4% during trading on Thursday . The stock traded as high as GBX 9.49 ($0.13) and last traded at GBX 9.16 ($0.12). 10,988,710 shares changed hands during mid-day trading, an increase of 36% from the average session volume of 8,073,210 shares. The stock had previously closed at GBX 8.30 ($0.11).

Analyst Ratings Changes

A number of research firms have issued reports on TLW. Jefferies Financial Group dropped their price target on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research note on Monday, October 20th. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Finally, Canaccord Genuity Group cut their target price on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Tullow Oil has an average rating of “Hold” and an average target price of GBX 15.33.

Tullow Oil Trading Up 3.5%

The firm has a market cap of £148.85 million, a price-to-earnings ratio of -0.73, 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 current ratio of 0.70 and a quick ratio of 0.63. The business has a 50-day moving average of GBX 10.53 and a 200-day moving average of GBX 13.27.

Insider Buying and Selling at Tullow Oil

In related news, insider Roald Goethe acquired 2,000,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were bought at an average price of GBX 12 per share, for a total transaction of £240,000. 1.34% of the stock is owned by company insiders.

Tullow Oil Company Profile

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.