Tullow Oil (LON:TLW) Trading 11.1% Higher – Here’s What Happened

Tullow Oil plc (LON:TLW) shot up 11.1% during mid-day trading on Tuesday . The stock traded as high as GBX 16.82 and last traded at GBX 16.82. 17,568,949 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 20,942,326 shares. The stock had previously closed at GBX 15.14.

Analysts Set New Price Targets

A number of research firms recently issued reports on TLW. Canaccord Genuity Group raised their price target on Tullow Oil from GBX 13 to GBX 14 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Shore Capital Group reissued a “hold” rating on shares of Tullow Oil in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Tullow Oil currently has an average rating of “Reduce” and an average target price of GBX 13.85.

Tullow Oil Trading Up 11.1%

The company has a current ratio of 0.52, a quick ratio of 0.63 and a debt-to-equity ratio of -892.65. The company has a market cap of £248.10 million, a PE ratio of 42.05, a P/E/G ratio of -0.19 and a beta of 0.37. The business’s 50-day simple moving average is GBX 13.07 and its 200-day simple moving average is GBX 9.50.

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.