Tullow Oil (LON:TLW) Hits New 12-Month High – What’s Next?

Tullow Oil plc (LON:TLW) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 23.25 and last traded at GBX 23.25, with a volume of 21500219 shares traded. The stock had previously closed at GBX 21.25.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TLW shares. Canaccord Genuity Group boosted their price target on Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a research note on Friday, August 14th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 24 target price on shares of Tullow Oil in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Tullow Oil presently has an average rating of “Reduce” and an average price target of GBX 12.60.

Tullow Oil Stock Up 9.4%

The company has a market cap of £352.24 million, a P/E ratio of 58.12, a PEG ratio of -0.19 and a beta of 0.55. The company has a quick ratio of 0.63, a current ratio of 0.52 and a debt-to-equity ratio of -892.65. The firm has a fifty day moving average price of GBX 15.89 and a 200 day moving average price of GBX 14.36.

Insider Activity

In other news, insider Garrett Soden purchased 426,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of GBX 15 per share, with a total value of £63,900. Insiders own 3.00% of the company’s stock.

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.