Tullow Oil (LON:TLW) Trading 15.3% Higher – What’s Next?

Tullow Oil plc (LON:TLW)’s stock price shot up 15.3% during mid-day trading on Thursday . The stock traded as high as GBX 9.95 and last traded at GBX 9.84. 34,914,574 shares were traded during mid-day trading, an increase of 219% from the average session volume of 10,933,178 shares. The stock had previously closed at GBX 8.53.

Wall Street Analysts Forecast Growth

Separately, Panmure Gordon lowered 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. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Price Performance

The stock has a market capitalization of £146.37 million, a P/E ratio of -0.71, a PEG 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 company has a fifty day simple moving average of GBX 6.96 and a two-hundred day simple moving average of GBX 8.71.

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.