Tullow Oil (LON:TLW) Stock Price Up 11.4% – Time to Buy?

Shares of Tullow Oil plc (LON:TLW) rose 11.4% on Wednesday . The stock traded as high as GBX 8.98 and last traded at GBX 8.96. Approximately 5,212,370 shares traded hands during trading, a decline of 47% from the average daily volume of 9,875,438 shares. The stock had previously closed at GBX 8.04.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TLW shares. Jefferies Financial Group reduced 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 report on Monday, October 20th. 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 research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Tullow Oil currently has a consensus rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Trading Down 3.0%

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 business’s 50-day moving average is GBX 6.79 and its two-hundred day moving average is GBX 8.92. The firm has a market cap of £125.97 million, a P/E ratio of -0.61, a P/E/G 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.