Tullow Oil (LON:TLW) Trading Up 12.3% – Time to Buy?

Tullow Oil plc (LON:TLW)’s share price rose 12.3% during mid-day trading on Thursday . The company traded as high as GBX 9.85 and last traded at GBX 9.58. Approximately 32,744,652 shares were traded during trading, an increase of 201% from the average daily volume of 10,871,180 shares. The stock had previously closed at GBX 8.53.

Wall Street Analyst Weigh In

Separately, Panmure Gordon decreased their price target 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 research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Stock Performance

The firm’s 50-day moving average price is GBX 6.96 and its two-hundred day moving average price is GBX 8.71. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70. The stock has a market cap of £146.37 million, a price-to-earnings ratio of -0.71, a PEG ratio of -0.19 and a beta of 2.08.

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.