Tullow Oil (LON:TLW) Stock Price Up 23.1% – Should You Buy?

Shares of Tullow Oil plc (LON:TLW) shot up 23.1% during trading on Friday . The company traded as high as GBX 10.90 and last traded at GBX 10.50. 63,336,352 shares were traded during mid-day trading, an increase of 439% from the average session volume of 11,745,229 shares. The stock had previously closed at GBX 8.53.

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Wall Street Analysts Forecast Growth

Separately, Panmure Gordon dropped their price objective on 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. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Trading Down 4.9%

The company has a market cap of £147.35 million, a P/E ratio of -0.71, a P/E/G ratio of -0.19 and a beta of 2.08. The business has a fifty day simple moving average of GBX 7.05 and a 200 day simple moving average of GBX 8.72. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70.

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.