Tullow Oil (LON:TLW) Shares Up 6.6% – Here’s Why

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

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Shore Capital restated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Jefferies Financial Group cut their price target on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a report on Monday, October 20th. Finally, Panmure Gordon dropped their target price 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. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Price Performance

The company has a market capitalization of £90.12 million, a P/E 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 business’s fifty day moving average price is GBX 7.39 and its 200-day moving average price is GBX 10.99.

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.