Tullow Oil (LON:TLW) Trading 9.5% Higher – Should You Buy?

Tullow Oil plc (LON:TLW) traded up 9.5% during trading on Thursday . The company traded as high as GBX 9.40 and last traded at GBX 9.34. 18,078,234 shares traded hands during mid-day trading, an increase of 73% from the average session volume of 10,452,140 shares. The stock had previously closed at GBX 8.53.

Analyst Upgrades and Downgrades

Separately, Panmure Gordon cut their price objective on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research note on Monday, November 24th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tullow Oil has a consensus rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Stock Performance

The stock has a market capitalization of £145.73 million, a P/E ratio of -0.71, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. 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 company has a 50-day moving average price of GBX 6.96 and a two-hundred day moving average price of GBX 8.71.

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.