Tullow Oil (LON:TLW) Trading Up 14.3% – Here’s Why

Shares of Tullow Oil plc (LON:TLW) traded up 14.3% during trading on Wednesday . The stock traded as high as GBX 8.14 and last traded at GBX 8. 41,646,805 shares traded hands during trading, an increase of 388% from the average session volume of 8,538,957 shares. The stock had previously closed at GBX 7.

Analysts Set New Price Targets

TLW has been the topic of a number of research analyst reports. Panmure Gordon decreased their price target on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a report on Monday, November 24th. Jefferies Financial Group cut their target price on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research report on Monday, October 20th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Stock Down 9.0%

The firm’s 50-day moving average price is GBX 6.34 and its 200-day moving average price is GBX 9.39. 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. The company has a market cap of £119.62 million, a price-to-earnings ratio of -0.58, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08.

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.