Tullow Oil (LON:TLW) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Tullow Oil plc (LON:TLW) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 12.83 and traded as high as GBX 15.10. Tullow Oil shares last traded at GBX 14.60, with a volume of 4,342,990 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TLW shares. Shore Capital Group reissued a “hold” rating on shares of Tullow Oil in a research note on Tuesday, April 28th. Canaccord Genuity Group increased their price objective on shares of Tullow Oil from GBX 14 to GBX 15 and gave the stock a “hold” rating in a research report on Friday. Finally, Peel Hunt reissued a “buy” rating and issued a GBX 24 price objective on shares of Tullow Oil in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of GBX 12.60.

Tullow Oil Stock Up 1.7%

The company has a quick ratio of 0.63, a current ratio of 0.52 and a debt-to-equity ratio of -892.65. The stock has a market cap of £223.62 million, a P/E ratio of 36.90, a P/E/G ratio of -0.19 and a beta of 0.47. The company’s 50 day moving average price is GBX 13.62 and its two-hundred day moving average price is GBX 12.88.

Insiders Place Their Bets

In other news, insider Richard Miller bought 115,000 shares of the stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of GBX 17 per share, for a total transaction of £19,550. Also, insider Garrett Soden purchased 426,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average cost of GBX 15 per share, for a total transaction of £63,900. Insiders own 3.00% of the company’s stock.

About Tullow Oil

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.