Tullow Oil (LON:TLW) Reaches New 12-Month High – Still a Buy?

Shares of Tullow Oil plc (LON:TLW) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 20.10 and last traded at GBX 19.85, with a volume of 47290648 shares trading hands. The stock had previously closed at GBX 18.44.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TLW shares. Peel Hunt restated a “buy” rating and set a GBX 24 price objective on shares of Tullow Oil in a research note on Wednesday, August 5th. Canaccord Genuity Group increased their price target on Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a research report on Friday, August 14th. Finally, Shore Capital Group restated a “hold” rating on shares of Tullow Oil in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Tullow Oil has a consensus rating of “Reduce” and an average target price of GBX 12.60.

Tullow Oil Stock Up 7.6%

The stock’s fifty day simple moving average is GBX 13.70 and its 200-day simple moving average is GBX 13.13. The company has a debt-to-equity ratio of -892.65, a quick ratio of 0.63 and a current ratio of 0.52. The stock has a market cap of £300.73 million, a P/E ratio of 49.62, a P/E/G ratio of -0.19 and a beta of 0.51.

Insider Activity

In related news, insider Richard Miller bought 115,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was purchased at an average price of GBX 17 per share, with a total value of £19,550. Also, insider Garrett Soden bought 426,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was bought at an average price of GBX 15 per share, for a total transaction of £63,900. 3.00% of the stock is currently owned by insiders.

About Tullow Oil

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.