Tullow Oil (LON:TLW) Trading Up 12.9% – Here’s What Happened

Tullow Oil plc (LON:TLW) shares shot up 12.9% on Monday . The stock traded as high as GBX 5.57 and last traded at GBX 5.45. 8,409,944 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 10,615,801 shares. The stock had previously closed at GBX 4.83.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TLW. Panmure Gordon dropped their price objective on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research note on Monday, November 24th. Canaccord Genuity Group lowered their target price on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a report on Thursday, August 7th. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Finally, Jefferies Financial Group reduced their price target 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 research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Trading Down 1.5%

The company has a market capitalization of £86.32 million, a price-to-earnings ratio of -0.42, a P/E/G 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. The company’s 50 day simple moving average is GBX 9.08 and its two-hundred day simple moving average is GBX 12.23.

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.