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

Tullow Oil plc (LON:TLW)’s stock price traded up 24.2% on Monday . The company traded as high as GBX 6.10 and last traded at GBX 6. 26,866,404 shares were traded 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.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group decreased their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research report on Monday, October 20th. Canaccord Genuity Group reduced their price objective on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research note on Thursday, August 7th. Panmure Gordon lowered their target price 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. Finally, Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Tullow Oil has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Trading Up 24.2%

The stock has a market cap of £87.90 million, a PE 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 9.18 and a two-hundred day moving average of GBX 12.29.

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.