Tullow Oil (LON:TLW) Shares Up 24.2% – What’s Next?

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TLW shares. Panmure Gordon decreased their price objective on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a report on Monday, November 24th. Shore Capital restated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Canaccord Genuity Group decreased their price target on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research note on Thursday, August 7th. Finally, Jefferies Financial Group dropped their price objective on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research note on Monday, October 20th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Tullow Oil presently has an average rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Stock Performance

The business has a 50 day simple moving average of GBX 9.27 and a two-hundred day simple moving average of GBX 12.35. The firm has a market cap of £87.90 million, a PE ratio of -0.43, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31.

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.