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

Tullow Oil plc (LON:TLW)’s share price traded up 6.6% on Tuesday . The stock traded as high as GBX 16.10 and last traded at GBX 16.10. 12,592,075 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 20,488,207 shares. The stock had previously closed at GBX 15.10.

Analyst Ratings Changes

Several analysts have commented on TLW shares. Shore Capital Group reaffirmed a “hold” rating on shares of Tullow Oil in a research note on Tuesday, April 28th. Canaccord Genuity Group upped their price objective on Tullow Oil from GBX 13 to GBX 14 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Tullow Oil presently has a consensus rating of “Reduce” and an average target price of GBX 13.85.

Tullow Oil Trading Up 6.6%

The company has a 50 day simple moving average of GBX 14.01 and a 200 day simple moving average of GBX 10.18. The company has a current ratio of 0.52, a quick ratio of 0.63 and a debt-to-equity ratio of -892.65. The stock has a market capitalization of £237.48 million, a PE ratio of 40.25, a P/E/G ratio of -0.19 and a beta of 0.43.

Insider Transactions at Tullow Oil

In other Tullow Oil news, insider Richard Miller bought 115,000 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were bought at an average price of GBX 17 per share, for a total transaction of £19,550. Insiders own 1.33% of the company’s stock.

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.