Tullow Oil (LON:TLW) Shares Up 24.2% – Should You Buy?

Tullow Oil plc (LON:TLW)’s stock price was up 24.2% during trading on Monday . The company traded as high as GBX 6.10 and last traded at GBX 6. Approximately 26,866,404 shares changed hands during mid-day trading, an increase of 151% from the average daily volume of 10,695,014 shares. The stock had previously closed at GBX 4.83.

Analyst Upgrades and Downgrades

TLW has been the topic of several recent analyst reports. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Canaccord Genuity Group decreased their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research report on Thursday, August 7th. Jefferies Financial Group lowered their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. Finally, Panmure Gordon cut their price target on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research note on Monday, November 24th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Trading Up 24.2%

The firm has a fifty day moving average of GBX 9.27 and a 200 day moving average of GBX 12.35. The firm has a market capitalization of £87.90 million, a PE ratio of -0.43, a P/E/G ratio of -0.19 and a beta of 2.08. 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.

Tullow Oil Company Profile

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.