Tullow Oil (LON:TLW) Trading Up 6.6% – Here’s Why

Shares of Tullow Oil plc (LON:TLW) rose 6.6% on Monday . The company traded as high as GBX 6.28 and last traded at GBX 6.11. Approximately 6,465,417 shares changed hands during trading, a decline of 39% from the average daily volume of 10,522,629 shares. The stock had previously closed at GBX 5.73.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TLW shares. Shore Capital restated a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Panmure Gordon reduced their target price on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a report on Monday, November 24th. Finally, 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. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tullow Oil presently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Stock Performance

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. The firm has a market capitalization of £90.12 million, a PE ratio of -0.44, a PEG ratio of -0.19 and a beta of 2.08. The stock’s 50 day moving average price is GBX 7.45 and its two-hundred day moving average price is GBX 11.08.

Tullow Oil Company Profile

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.