Tullow Oil (LON:TLW) Shares Up 23.1% – Time to Buy?

Shares of Tullow Oil plc (LON:TLW) rose 23.1% on Thursday . The stock traded as high as GBX 10.90 and last traded at GBX 10.50. Approximately 63,336,352 shares changed hands during mid-day trading, an increase of 439% from the average daily volume of 11,745,229 shares. The stock had previously closed at GBX 8.53.

More Tullow Oil News

Here are the key news stories impacting Tullow Oil this week:

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Wall Street Analysts Forecast Growth

Separately, Panmure Gordon dropped their target price on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a report 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 data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Price Performance

The stock has a 50-day moving average price of GBX 7.05 and a two-hundred day moving average price of GBX 8.72. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The stock has a market cap of £154.88 million, a price-to-earnings ratio of -0.75, 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.