Tullow Oil (LON:TLW) Stock Price Up 14.3% – Should You Buy?

Tullow Oil plc (LON:TLW)’s stock price rose 14.3% during mid-day trading on Wednesday . The stock traded as high as GBX 15.91 ($0.21) and last traded at GBX 15.64 ($0.21). Approximately 11,230,354 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 9,404,102 shares. The stock had previously closed at GBX 13.68 ($0.18).

Analysts Set New Price Targets

TLW has been the subject of a number of research analyst reports. Canaccord Genuity Group reduced their price objective on Tullow Oil from GBX 35 ($0.47) to GBX 25 ($0.33) and set a “speculative buy” rating for the company in a report on Thursday, February 20th. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a report on Tuesday, May 6th.

Tullow Oil Price Performance

The business’s 50 day moving average is GBX 14.08 and its 200-day moving average is GBX 18.32. The firm has a market capitalization of £276.72 million, a P/E ratio of 17.68, a PEG ratio of -0.19 and a beta of 2.08. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31.

Insider Buying and Selling at Tullow Oil

In other Tullow Oil news, insider Roald Goethe purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were bought at an average price of GBX 17 ($0.23) per share, for a total transaction of £17,000 ($22,624.43). Insiders have purchased 400,000 shares of company stock worth $5,900,000 over the last quarter. Corporate insiders own 24.59% 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. The Company’s operations are focused on its West-African producing assets in Ghana, Gabon and Côte d’Ivoire, alongside a material discovered resource base in Kenya. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030 and has a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations.