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

Tullow Oil plc (LON:TLW)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 23 and last traded at GBX 21.45, with a volume of 28656838 shares. The stock had previously closed at GBX 20.45.

Analysts Set New Price Targets

TLW has been the subject of a number of research reports. Canaccord Genuity Group increased their price target on Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a research note on Friday, August 14th. Peel Hunt restated a “buy” rating and set a GBX 24 price objective on shares of Tullow Oil in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of GBX 12.60.

Tullow Oil Price Performance

The company has a 50 day moving average price of GBX 14.75 and a 200-day moving average price of GBX 13.83. The company has a market cap of £324.97 million, a price-to-earnings ratio of 53.62, a P/E/G ratio of -0.19 and a beta of 0.51. The company has a quick ratio of 0.63, a current ratio of 0.52 and a debt-to-equity ratio of -892.65.

Insiders Place Their Bets

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

Tullow Oil Company Profile

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.