Tullow Oil (LON:TLW) Trading 23.1% Higher – Still a Buy?

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

Analyst Upgrades and Downgrades

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

Tullow Oil Stock Performance

The company has a market cap of £70.76 million, a PE ratio of -0.35, a PEG ratio of -0.19 and a beta of 2.08. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The stock has a 50 day moving average price of GBX 9.27 and a 200 day moving average price of GBX 12.39.

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.