Tullow Oil (LON:TLW) Reaches New 52-Week High – Here’s Why

Tullow Oil plc (LON:TLW)’s share price hit a new 52-week high on Thursday . The stock traded as high as GBX 20.10 and last traded at GBX 19.85, with a volume of 47290648 shares trading hands. The stock had previously closed at GBX 18.44.

Analysts Set New Price Targets

Several brokerages have issued reports on TLW. Peel Hunt restated a “buy” rating and set a GBX 24 price objective on shares of Tullow Oil in a research note on Wednesday, August 5th. Shore Capital Group reiterated a “hold” rating on shares of Tullow Oil in a research report on Tuesday, April 28th. Finally, Canaccord Genuity Group boosted their price target on Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Tullow Oil currently has an average rating of “Reduce” and an average target price of GBX 12.60.

Tullow Oil Stock Up 2.3%

The stock’s fifty day simple moving average is GBX 13.88 and its two-hundred day simple moving average is GBX 13.26. The company has a debt-to-equity ratio of -892.65, a current ratio of 0.52 and a quick ratio of 0.63. The company has a market capitalization of £308.31 million, a price-to-earnings ratio of 50.88, a PEG ratio of -0.19 and a beta of 0.51.

Insider Buying and Selling at Tullow Oil

In other Tullow Oil news, insider Garrett Soden acquired 426,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average price of GBX 15 per share, for a total transaction of £63,900. 3.00% of the stock is currently owned by corporate insiders.

About Tullow Oil

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

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