Tullow Oil (LON:TLW) Reaches New 52-Week High – Here’s What Happened

Tullow Oil plc (LON:TLW)’s share price reached a new 52-week high on Thursday . The stock traded as high as GBX 20.10 and last traded at GBX 19.85, with a volume of 47290648 shares. The stock had previously closed at GBX 18.44.

Analysts Set New Price Targets

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

Tullow Oil Trading Up 7.6%

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 business’s fifty day moving average is GBX 13.70 and its 200 day moving average is GBX 13.13. The firm has a market capitalization of £300.73 million, a price-to-earnings ratio of 49.62, a price-to-earnings-growth ratio of -0.19 and a beta of 0.51.

Insider Transactions at Tullow Oil

In other news, insider Garrett Soden acquired 426,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average cost of GBX 15 per share, for a total transaction of £63,900. Also, insider Richard Miller bought 115,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of GBX 17 per share, for a total transaction of £19,550. 3.00% of the stock is currently owned by corporate insiders.

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.