Tullow Oil (LON:TLW) Trading 6.6% Higher – Still a Buy?

Tullow Oil plc (LON:TLW)’s stock price was up 6.6% during mid-day trading on Monday . The company traded as high as GBX 6.28 and last traded at GBX 6.11. Approximately 6,465,417 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 10,522,629 shares. The stock had previously closed at GBX 5.73.

Wall Street Analysts Forecast Growth

TLW has been the subject of a number of recent research reports. Panmure Gordon dropped their target price on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a research report on Monday, November 24th. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Finally, Jefferies Financial Group decreased their target price on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research report on Monday, October 20th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Tullow Oil presently has a consensus rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Stock Performance

The company has a market capitalization of £90.12 million, a price-to-earnings ratio of -0.44, a P/E/G ratio of -0.19 and a beta of 2.08. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The stock’s 50 day moving average price is GBX 7.39 and its 200 day moving average price is GBX 10.99.

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.