Tullow Oil (LON:TLW) Trading 6.6% Higher – What’s Next?

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Panmure Gordon decreased their price objective on shares of 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. Finally, Jefferies Financial Group decreased their price target 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. One investment 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, the company presently has a consensus rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Stock Performance

The firm has a market capitalization of £90.12 million, a price-to-earnings ratio of -0.44, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The firm’s 50-day moving average price is GBX 7.45 and its two-hundred day moving average price is GBX 11.08. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70.

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.