Tullow Oil (LON:TLW) Stock Price Up 6.6% – Here’s Why

Tullow Oil plc (LON:TLW) shares traded up 6.6% on Monday . The stock traded as high as GBX 6.28 and last traded at GBX 6.11. 6,465,417 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 10,522,629 shares. The stock had previously closed at GBX 5.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Jefferies Financial Group lowered their price objective on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research report on Monday, October 20th. Shore Capital restated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Finally, Panmure Gordon dropped their price objective on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a research note on Monday, November 24th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Tullow Oil presently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Stock Up 6.6%

The stock has a market cap of £90.12 million, a price-to-earnings ratio of -0.44, a P/E/G ratio of -0.19 and a beta of 2.08. The business has a fifty day moving average of GBX 7.39 and a 200 day moving average of GBX 10.99. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63.

About Tullow Oil

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. Tullow’s operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.