Tullow Oil (LON:TLW) Trading 7.1% Higher – Still a Buy?

Tullow Oil plc (LON:TLW) shares traded up 7.1% during trading on Monday . The stock traded as high as GBX 18.10 and last traded at GBX 17.75. 71,698,977 shares were traded during mid-day trading, an increase of 230% from the average session volume of 21,714,350 shares. The stock had previously closed at GBX 16.58.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Canaccord Genuity Group raised their target price on Tullow Oil from GBX 13 to GBX 14 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Shore Capital Group restated a “hold” rating on shares of Tullow Oil in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Tullow Oil currently has an average rating of “Reduce” and a consensus target price of GBX 13.85.

Tullow Oil Stock Up 7.1%

The stock’s 50-day moving average is GBX 13.29 and its 200-day moving average is GBX 9.63. The stock has a market cap of £261.85 million, a P/E ratio of 44.38, a price-to-earnings-growth ratio of -0.19 and a beta of 0.43. The company has a current ratio of 0.52, a quick ratio of 0.63 and a debt-to-equity ratio of -892.65.

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.