Tullow Oil (LON:TLW) Shares Up 16.9% – Here’s What Happened

Tullow Oil plc (LON:TLW) shot up 16.9% on Tuesday . The company traded as high as GBX 19.38 and last traded at GBX 18.93. 79,148,203 shares traded hands during mid-day trading, an increase of 282% from the average session volume of 20,738,258 shares. The stock had previously closed at GBX 16.20.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TLW. Canaccord Genuity Group boosted their target price on Tullow Oil from GBX 13 to GBX 14 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Shore Capital Group reaffirmed a “hold” rating on shares of Tullow Oil in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of GBX 13.85.

Tullow Oil Price Performance

The stock has a market cap of £211.22 million, a P/E ratio of 35.80, a price-to-earnings-growth ratio of -0.19 and a beta of 0.37. The firm has a 50-day moving average price of GBX 12.75 and a 200-day moving average price of GBX 9.36. The company has a debt-to-equity ratio of -892.65, a quick ratio of 0.63 and a current ratio of 0.52.

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.