Tullow Oil (LON:TLW) Shares Up 24.2% – Still a Buy?

Tullow Oil plc (LON:TLW) rose 24.2% during trading on Monday . The company traded as high as GBX 6.10 and last traded at GBX 6. Approximately 26,866,404 shares traded hands during mid-day trading, an increase of 151% from the average daily volume of 10,695,014 shares. The stock had previously closed at GBX 4.83.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TLW shares. Jefferies Financial Group cut their price target on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Panmure Gordon reduced their price objective on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a report on Monday, November 24th. Finally, Canaccord Genuity Group dropped their price objective on shares of 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 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Trading Up 24.2%

The stock 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. 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 company has a 50 day moving average of GBX 9.27 and a 200-day moving average of GBX 12.35.

About Tullow Oil

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.