Tullow Oil (LON:TLW) Trading Up 23.1% – Here’s Why

Tullow Oil plc (LON:TLW) rose 23.1% on Thursday . The stock traded as high as GBX 10.90 and last traded at GBX 10.50. Approximately 63,333,191 shares changed hands during mid-day trading, an increase of 439% from the average daily volume of 11,745,138 shares. The stock had previously closed at GBX 8.53.

Wall Street Analysts Forecast Growth

Separately, 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. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tullow Oil currently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Stock Up 23.1%

The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31. The stock has a market capitalization of £154.88 million, a PE ratio of -0.75, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company’s fifty day moving average price is GBX 6.96 and its 200-day moving average price is GBX 8.71.

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.