Tullow Oil (LON:TLW) Trading 15.3% Higher – Time to Buy?

Shares of Tullow Oil plc (LON:TLW) traded up 15.3% during trading on Thursday . The company traded as high as GBX 9.95 and last traded at GBX 9.84. 34,914,574 shares traded hands during mid-day trading, an increase of 219% from the average session volume of 10,933,178 shares. The stock had previously closed at GBX 8.53.

Wall Street Analysts Forecast Growth

Separately, Panmure Gordon reduced their target price 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. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Tullow Oil presently has an average rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Stock Up 16.3%

The firm has a market capitalization of £146.37 million, a price-to-earnings ratio of -0.71, a P/E/G ratio of -0.19 and a beta of 2.08. The stock has a fifty day moving average of GBX 6.96 and a two-hundred day moving average of GBX 8.71. 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.

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.