Tullow Oil (LON:TLW) Shares Cross Above 200 Day Moving Average – Here’s Why

Tullow Oil plc (LON:TLW)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 11.30 and traded as high as GBX 12. Tullow Oil shares last traded at GBX 11.84, with a volume of 5,422,461 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TLW. Canaccord Genuity Group boosted their price objective on Tullow Oil from GBX 13 to GBX 14 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Shore Capital Group reaffirmed a “hold” rating on shares of Tullow Oil in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tullow Oil has an average rating of “Reduce” and a consensus price target of GBX 13.85.

Tullow Oil Stock Up 2.6%

The company has a current ratio of 0.52, a quick ratio of 0.63 and a debt-to-equity ratio of -892.65. The stock’s 50-day moving average is GBX 14.54 and its 200-day moving average is GBX 11.30. The company has a market cap of £179.38 million, a price-to-earnings ratio of 29.60, a P/E/G ratio of -0.19 and a beta of 0.44.

Insider Buying and Selling at Tullow Oil

In related news, insider Garrett Soden purchased 426,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was purchased at an average cost of GBX 15 per share, with a total value of £63,900. Also, insider Richard Miller acquired 115,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were bought at an average price of GBX 17 per share, for a total transaction of £19,550. Insiders own 2.91% of the company’s stock.

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.