Tullow Oil (LON:TLW) Trading Up 6.6% – Should You Buy?

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

Wall Street Analyst Weigh In

Several research firms have recently commented on TLW. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Jefferies Financial Group reduced their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. Finally, Panmure Gordon decreased 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 research note on Monday, November 24th. One equities research 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.com, the stock currently has an average rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Price 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 firm has a 50-day moving average of GBX 7.45 and a 200-day moving average of GBX 11.08. The stock has a market cap of £90.12 million, a PE ratio of -0.44, a PEG ratio of -0.19 and a beta of 2.08.

Tullow Oil Company Profile

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.