Tullow Oil (LON:TLW) Shares Up 4% – What’s Next?

Tullow Oil plc (LON:TLW)’s stock price was up 4% on Tuesday . The company traded as high as GBX 17.20 and last traded at GBX 16.49. 27,864,525 shares changed hands during mid-day trading, an increase of 58% from the average daily volume of 17,649,549 shares. The stock had previously closed at GBX 15.86.

Wall Street Analyst Weigh In

Several research firms have commented on TLW. Canaccord Genuity Group upped their price target on shares of Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a report on Friday. Shore Capital Group reissued a “hold” rating on shares of Tullow Oil in a report on Tuesday, April 28th. Finally, Peel Hunt restated a “buy” rating and issued a GBX 24 target price on shares of Tullow Oil in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of GBX 12.60.

Tullow Oil Stock Up 4.0%

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 cap of £249.87 million, a price-to-earnings ratio of 41.23, a PEG ratio of -0.19 and a beta of 0.51. The business’s 50 day moving average price is GBX 13.61 and its 200 day moving average price is GBX 13.

Insiders Place Their Bets

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

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.