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

Tullow Oil plc (LON:TLW)’s stock price rose 6.6% 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TLW shares. 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 research report on Monday, October 20th. Panmure Gordon cut their target price on 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. Finally, Shore Capital reissued a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Tullow Oil has a consensus rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Stock Up 6.6%

The stock has a market capitalization of £90.12 million, a P/E ratio of -0.44, a PEG ratio of -0.19 and a beta of 2.08. The stock’s fifty day moving average is GBX 7.45 and its two-hundred day moving average is GBX 11.08. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63.

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.