Tullow Oil (LON:TLW) Trading Up 20.5% – Still a Buy?

Tullow Oil plc (LON:TLW)’s share price shot up 20.5% during trading on Wednesday . The company traded as high as GBX 4.90 and last traded at GBX 4.70. 34,904,527 shares traded hands during mid-day trading, an increase of 232% from the average session volume of 10,512,564 shares. The stock had previously closed at GBX 3.90.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Canaccord Genuity Group dropped their price objective on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research note on Thursday, August 7th. Jefferies Financial Group dropped their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. Panmure Gordon dropped their price objective on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a report on Monday. Finally, Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Stock Up 20.5%

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 has a fifty day simple moving average of GBX 9.62 and a 200 day simple moving average of GBX 12.56. The firm has a market capitalization of £68.86 million, a P/E ratio of -0.34, a P/E/G ratio of -0.19 and a beta of 2.08.

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.