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

Shares of Tullow Oil plc (LON:TLW) rose 6.6% on Monday . The stock traded as high as GBX 6.28 and last traded at GBX 6.11. Approximately 6,465,417 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 10,522,629 shares. The stock had previously closed at GBX 5.73.

Analysts Set New Price Targets

Several research firms have recently commented on TLW. Panmure Gordon lowered their target price on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a report on Monday, November 24th. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Finally, Jefferies Financial Group decreased their price target 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 equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Stock Performance

The business’s fifty day moving average is GBX 7.29 and its two-hundred day moving average is GBX 10.86. The stock has a market capitalization of £89.24 million, a PE ratio of -0.43, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. 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.

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.