Tullow Oil (LON:TLW) Trading Up 24.2% – Still a Buy?

Tullow Oil plc (LON:TLW)’s stock price shot up 24.2% during mid-day trading on Monday . The stock traded as high as GBX 6.10 and last traded at GBX 6. 26,866,404 shares changed hands 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.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Canaccord Genuity Group cut 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. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Panmure Gordon decreased their price target 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. Finally, 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. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Stock Up 24.2%

The company has a fifty day simple moving average of GBX 9.27 and a 200-day simple moving average of GBX 12.35. The firm has a market cap of £87.90 million, a P/E 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.