Tullow Oil (LON:TLW) Shares Up 6.6% – Still a Buy?

Tullow Oil plc (LON:TLW) shares shot up 6.6% during trading on Monday . The company traded as high as GBX 6.28 and last traded at GBX 6.11. 6,465,417 shares were traded during mid-day trading, a decline of 39% from the average session volume of 10,522,629 shares. The stock had previously closed at GBX 5.73.

Analyst Ratings Changes

A number of research firms have recently commented on TLW. Jefferies Financial Group reduced their target price 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. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Finally, Panmure Gordon decreased their price target 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 equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tullow Oil presently has an average rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Price Performance

The business’s fifty day moving average price is GBX 7.45 and its 200-day moving average price is GBX 11.08. The company has a market capitalization of £90.12 million, a P/E ratio of -0.44, a P/E/G ratio of -0.19 and a beta of 2.08. 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.

About Tullow Oil

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. Tullow’s operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.