Tullow Oil (LON:TLW) Shares Up 23.1% – Should You Buy?

Tullow Oil plc (LON:TLW)’s stock price rose 23.1% during trading on Wednesday . The stock traded as high as GBX 4.90 and last traded at GBX 4.80. Approximately 38,513,406 shares were traded during trading, an increase of 266% from the average daily volume of 10,528,255 shares. The stock had previously closed at GBX 3.90.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TLW. Panmure Gordon cut their target price on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research report on Monday. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Jefferies Financial Group decreased their target price on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. Finally, Canaccord Genuity Group dropped their target price on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Stock Performance

The firm has a market capitalization of £70.32 million, a PE ratio of -0.34, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The firm’s 50 day moving average price is GBX 9.62 and its 200-day moving average price is GBX 12.56. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70.

About Tullow Oil

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. The Company’s operations are focused on its West-African producing assets in Ghana, Gabon and Côte d’Ivoire, alongside a material discovered resource base in Kenya. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030 and has a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations.