Tullow Oil (LON:TLW) Shares Up 9.6% – Should You Buy?

Tullow Oil plc (LON:TLW)’s stock price traded up 9.6% on Tuesday. The stock traded as high as GBX 12.66 and last traded at GBX 12.06. Approximately 48,326,043 shares traded hands during trading, an increase of 146% from the average daily volume of 19,654,924 shares. The stock had previously closed at GBX 11.

Analyst Ratings Changes

Several analysts have commented on the stock. Peel Hunt restated a “buy” rating and set a GBX 24 target price on shares of Tullow Oil in a report on Wednesday, August 5th. Jefferies Financial Group reissued a “hold” rating and set a GBX 7 price objective on shares of Tullow Oil in a research report on Thursday, October 1st. Finally, Canaccord Genuity Group raised their price objective on shares of Tullow Oil from GBX 14 to GBX 15 and gave the stock a “hold” rating in a report on Friday, August 14th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of GBX 12.85.

Tullow Oil Trading Up 9.6%

The company has a market capitalization of £182.71 million, a P/E ratio of -5.48, a price-to-earnings-growth ratio of -0.19 and a beta of 0.55. The business has a fifty day moving average price of GBX 17.90 and a 200 day moving average price of GBX 15.28. The company has a quick ratio of 0.63, a current ratio of 0.97 and a debt-to-equity ratio of -543.66.

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.