Tullow Oil (LON:TLW) Trading 7.4% Higher – Still a Buy?

Tullow Oil plc (LON:TLW) shares traded up 7.4% during trading on Tuesday . The company traded as high as GBX 13.04 and last traded at GBX 12.44. 32,714,428 shares were traded during trading, an increase of 68% from the average session volume of 19,419,873 shares. The stock had previously closed at GBX 11.58.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Canaccord Genuity Group increased their price target on Tullow Oil from GBX 13 to GBX 14 and gave the company a “hold” rating in a research report on Wednesday. Shore Capital Group reaffirmed a “hold” rating on shares of Tullow Oil in a research report on Tuesday. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of GBX 13.85.

Tullow Oil Trading Up 11.6%

The firm has a fifty day simple moving average of GBX 12.38 and a two-hundred day simple moving average of GBX 9.24. The firm has a market capitalization of £221.55 million, a P/E ratio of -1.07, a price-to-earnings-growth ratio of -0.19 and a beta of 0.37. The company has a debt-to-equity ratio of -750.59, a current ratio of 0.55 and a quick ratio of 0.63.

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.