Tullow Oil (LON:TLW) Shares Up 6.6% – Time to Buy?

Tullow Oil plc (LON:TLW)’s share price was up 6.6% during trading on Monday . The stock traded as high as GBX 6.28 and last traded at GBX 6.11. Approximately 6,465,417 shares changed hands during trading, a decline of 39% from the average daily volume of 10,522,629 shares. The stock had previously closed at GBX 5.73.

Analyst Ratings Changes

TLW has been the subject of a number of research analyst reports. Shore Capital restated a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Panmure Gordon dropped 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 research report on Monday, November 24th. Finally, Jefferies Financial Group cut their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research note on Monday, October 20th. 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, Tullow Oil currently has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Stock Down 2.7%

The stock’s fifty day simple moving average is GBX 7.35 and its two-hundred day simple moving average is GBX 10.90. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63. The company has a market capitalization of £89.24 million, a price-to-earnings ratio of -0.43, 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.