Tullow Oil (LON:TLW) Trading 6.8% Higher – Here’s Why

Shares of Tullow Oil plc (LON:TLW) shot up 6.8% on Monday . The company traded as high as GBX 13.62 and last traded at GBX 13.12. 20,215,207 shares changed hands during trading, an increase of 0% from the average session volume of 20,167,600 shares. The stock had previously closed at GBX 12.28.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their target price on Tullow Oil from GBX 7 to GBX 13 and gave the company a “hold” rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of GBX 13.60.

Tullow Oil Stock Up 6.8%

The company has a market capitalization of £193.52 million, a price-to-earnings ratio of -0.94, a PEG ratio of -0.19 and a beta of 0.66. The company has a debt-to-equity ratio of -750.59, a quick ratio of 0.63 and a current ratio of 0.55. The business’s 50 day moving average is GBX 10.35 and its 200 day moving average is GBX 8.95.

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.