Tullow Oil (LON:TLW) Stock Price Up 24.2% – Should You Buy?

Tullow Oil plc (LON:TLW) 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 were traded during trading, an increase of 151% from the average session volume of 10,695,014 shares. The stock had previously closed at GBX 4.83.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TLW shares. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Jefferies Financial Group dropped their price target on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research report on Monday, October 20th. Canaccord Genuity Group decreased their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research report on Thursday, August 7th. Finally, Panmure Gordon lowered their target price on shares of 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. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Tullow Oil currently has a consensus rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Trading Up 24.2%

The company has a market capitalization of £87.90 million, a PE ratio of -0.43, a PEG ratio of -0.19 and a beta of 2.08. The company has a fifty day simple moving average of GBX 9.27 and a 200-day simple moving average of GBX 12.35. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31.

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.