Tullow Oil (LON:TLW) Trading 6.6% Higher – Here’s What Happened

Shares of Tullow Oil plc (LON:TLW) traded up 6.6% during mid-day trading on Monday . The stock traded as high as GBX 6.28 and last traded at GBX 6.11. 6,000,150 shares traded hands during trading, a decline of 43% from the average session volume of 10,520,775 shares. The stock had previously closed at GBX 5.73.

Analysts Set New Price Targets

A number of brokerages have issued reports on TLW. Jefferies Financial Group decreased their price target on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research note on Monday, October 20th. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Finally, Panmure Gordon lowered 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 analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Stock Up 6.6%

The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The firm has a market capitalization of £90.12 million, a price-to-earnings ratio of -0.44, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The firm has a 50 day moving average price of GBX 7.45 and a two-hundred day moving average price of GBX 11.08.

About Tullow Oil

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.