Tullow Oil (LON:TLW) Sets New 52-Week High – Still a Buy?

Tullow Oil plc (LON:TLW) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as GBX 23 and last traded at GBX 21.45, with a volume of 28656838 shares trading hands. The stock had previously closed at GBX 20.45.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TLW shares. Canaccord Genuity Group raised their target price on Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a report on Friday, August 14th. Peel Hunt reiterated a “buy” rating and issued a GBX 24 price target on shares of Tullow Oil in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of GBX 12.60.

Tullow Oil Price Performance

The stock has a market cap of £324.97 million, a P/E ratio of 53.62, a PEG ratio of -0.19 and a beta of 0.51. The company has a debt-to-equity ratio of -892.65, a current ratio of 0.52 and a quick ratio of 0.63. The business’s fifty day moving average price is GBX 14.75 and its 200 day moving average price is GBX 13.83.

Insider Activity

In related news, insider Garrett Soden acquired 426,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average cost of GBX 15 per share, for a total transaction of £63,900. Company insiders own 3.00% of the company’s stock.

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.