Tullow Oil (LON:TLW) Sets New 1-Year High – Still a Buy?

Tullow Oil plc (LON:TLW)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 23 and last traded at GBX 21.45, with a volume of 28656838 shares changing hands. The stock had previously closed at GBX 20.45.

Analysts Set New Price Targets

A number of brokerages have recently commented on TLW. Canaccord Genuity Group raised their target price on shares of Tullow Oil from GBX 14 to GBX 15 and gave the stock a “hold” rating in a research report on Friday, August 14th. Peel Hunt reissued a “buy” rating and issued a GBX 24 price objective on shares of Tullow Oil in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of GBX 12.60.

Tullow Oil Trading Down 3.2%

The company has a debt-to-equity ratio of -892.65, a quick ratio of 0.63 and a current ratio of 0.52. The company has a market capitalization of £331.41 million, a P/E ratio of 54.69, a PEG ratio of -0.19 and a beta of 0.51. The company’s fifty day simple moving average is GBX 15.14 and its 200-day simple moving average is GBX 14.01.

Insider Buying and Selling at Tullow Oil

In other Tullow Oil news, insider Garrett Soden purchased 426,000 shares of the stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of GBX 15 per share, with a total value of £63,900. Insiders own 3.00% of the company’s stock.

About Tullow Oil

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.