Tullow Oil (LON:TLW) Sets New 12-Month High – Still a Buy?

Tullow Oil plc (LON:TLW) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 23.25 and last traded at GBX 23.25, with a volume of 21500219 shares. The stock had previously closed at GBX 21.25.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TLW shares. Canaccord Genuity Group boosted their price target on Tullow Oil from GBX 14 to GBX 15 and gave the stock a “hold” rating in a research report on Friday, August 14th. Peel Hunt restated a “buy” rating and issued a GBX 24 target price on shares of Tullow Oil in a report on Wednesday, August 5th. One equities 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 company’s stock. According to MarketBeat, Tullow Oil currently has a consensus rating of “Reduce” and a consensus target price of GBX 12.60.

Tullow Oil Price Performance

The company has a market cap of £352.24 million, a price-to-earnings ratio of 58.12, a price-to-earnings-growth ratio of -0.19 and a beta of 0.55. 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 company has a fifty day moving average price of GBX 15.89 and a two-hundred day moving average price of GBX 14.36.

Insiders Place Their Bets

In other Tullow Oil news, insider Garrett Soden purchased 426,000 shares of the stock in a transaction on Friday, June 12th. The shares were purchased at an average price of GBX 15 per share, with a total value of £63,900. 3.00% of the stock is 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.