Tullow Oil (LON:TLW) Trading 19.1% Higher – Time to Buy?

Tullow Oil plc (LON:TLW) shares shot up 19.1% during mid-day trading on Thursday . The stock traded as high as GBX 10.18 and last traded at GBX 10.16. 42,444,164 shares traded hands during trading, an increase of 281% from the average session volume of 11,148,309 shares. The stock had previously closed at GBX 8.53.

Analyst Upgrades and Downgrades

Separately, Panmure Gordon dropped their target price on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research report on Monday, November 24th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Trading Up 21.9%

The business has a 50-day moving average price of GBX 6.96 and a 200-day moving average price of GBX 8.71. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31. The firm has a market capitalization of £153.40 million, a P/E ratio of -0.74, a PEG ratio of -0.19 and a beta of 2.08.

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.