Tullow Oil (LON:TLW) Stock Price Up 8.8% – What’s Next?

Tullow Oil plc (LON:TLW)’s share price was up 8.8% during mid-day trading on Wednesday . The stock traded as high as GBX 16 and last traded at GBX 16. Approximately 22,830,631 shares changed hands during trading, an increase of 14% from the average daily volume of 20,027,240 shares. The stock had previously closed at GBX 14.70.

Analyst Upgrades and Downgrades

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

Tullow Oil Trading Up 8.8%

The firm has a fifty day moving average of GBX 14.35 and a two-hundred day moving average of GBX 10.47. The company has a market cap of £242.40 million, a PE ratio of 40.00, a price-to-earnings-growth ratio of -0.19 and a beta of 0.43. The company has a current ratio of 0.52, a quick ratio of 0.63 and a debt-to-equity ratio of -892.65.

Insiders Place Their Bets

In other news, insider Richard Miller acquired 115,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average price of GBX 17 per share, with a total value of £19,550. Company insiders own 2.91% of the company’s stock.

Tullow Oil Company Profile

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.