Tullow Oil (LON:TLW) Shares Up 9.6% – Here’s What Happened

Tullow Oil plc (LON:TLW) shares shot up 9.6% on Tuesday. The stock traded as high as GBX 12.66 and last traded at GBX 12.06. 48,326,043 shares changed hands during trading, an increase of 146% from the average daily volume of 19,654,924 shares. The stock had previously closed at GBX 11.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TLW. Jefferies Financial Group reissued a “hold” rating and issued a GBX 7 price objective on shares of Tullow Oil in a research report on Thursday, October 1st. Canaccord Genuity Group raised their target price on shares of Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a research report on Friday, August 14th. Finally, Peel Hunt reaffirmed a “buy” rating and issued a GBX 24 target price on shares of Tullow Oil in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of GBX 12.85.

Tullow Oil Trading Up 9.6%

The firm has a market cap of £182.71 million, a price-to-earnings ratio of -5.48, a P/E/G ratio of -0.19 and a beta of 0.55. The company has a debt-to-equity ratio of -543.66, a current ratio of 0.97 and a quick ratio of 0.63. The business has a 50-day moving average of GBX 17.90 and a 200-day moving average of GBX 15.28.

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.