Tullow Oil (LON:TLW) Stock Price Up 10.6% – Here’s Why

Shares of Tullow Oil plc (LON:TLW) rose 10.6% on Wednesday . The stock traded as high as GBX 14.13 and last traded at GBX 13.80. 36,671,559 shares traded hands during mid-day trading, an increase of 89% from the average daily volume of 19,394,027 shares. The stock had previously closed at GBX 12.48.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Tullow Oil from GBX 13 to GBX 14 and gave the company a “hold” rating in a research report 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 research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Tullow Oil currently has an average rating of “Reduce” and a consensus price target of GBX 13.85.

Tullow Oil Stock Down 2.5%

The company has a debt-to-equity ratio of -892.65, a quick ratio of 0.63 and a current ratio of 0.52. The firm has a market capitalization of £188.77 million, a PE ratio of 31.15, a PEG ratio of -0.19 and a beta of 0.47. The company has a fifty day moving average price of GBX 14.61 and a 200-day moving average price of GBX 11.54.

Insiders Place Their Bets

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

Tullow Oil Company Profile

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.