Tullow Oil (LON:TLW) Stock Price Up 23.1% – Time to Buy?

Tullow Oil plc (LON:TLW)’s share price rose 23.1% during trading on Wednesday . The company traded as high as GBX 4.90 and last traded at GBX 4.80. Approximately 38,513,406 shares traded hands during mid-day trading, an increase of 266% from the average daily volume of 10,528,255 shares. The stock had previously closed at GBX 3.90.

Analysts Set New Price Targets

TLW has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price target on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research note on Monday, October 20th. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Canaccord Genuity Group lowered their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research note on Thursday, August 7th. Finally, Panmure Gordon reduced their price target on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a research note on Monday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Price Performance

The firm has a market capitalization of £70.32 million, a PE ratio of -0.34, a PEG ratio of -0.19 and a beta of 2.08. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63. The firm has a 50-day simple moving average of GBX 9.50 and a 200-day simple moving average of GBX 12.51.

Tullow Oil Company Profile

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.