Tullow Oil (LON:TLW) Trading Up 24.2% – Time to Buy?

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

Wall Street Analyst Weigh In

TLW has been the subject of a number of recent analyst reports. 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. Panmure Gordon lowered their price target on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a report on Monday, November 24th. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Finally, Canaccord Genuity Group decreased their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research report on Thursday, August 7th. 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 company. According to MarketBeat, the company 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 current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The firm has a market capitalization of £87.90 million, a price-to-earnings ratio of -0.43, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The firm has a 50 day moving average price of GBX 9.27 and a two-hundred day moving average price of GBX 12.35.

About Tullow Oil

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.