Tullow Oil (LON:TLW) Trading Up 12.1% – Here’s Why

Tullow Oil plc (LON:TLW) shares rose 12.1% during mid-day trading on Thursday . The company traded as high as GBX 7.50 and last traded at GBX 7.50. Approximately 12,391,385 shares changed hands during mid-day trading, an increase of 90% from the average daily volume of 6,532,052 shares. The stock had previously closed at GBX 6.69.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Panmure Gordon dropped their target price on shares of 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. Jefferies Financial Group dropped their price objective on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research note on Monday, October 20th. One research 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. Based on data from MarketBeat, Tullow Oil currently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Stock Performance

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. The business has a 50 day moving average price of GBX 6.64 and a 200 day moving average price of GBX 10.06. The stock has a market capitalization of £105.18 million, a PE ratio of -0.51, a PEG ratio of -0.19 and a beta of 2.08.

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.