Tullow Oil (LON:TLW) Trading Up 23.1% – Here’s What Happened

Tullow Oil plc (LON:TLW) shares traded up 23.1% during trading on Thursday . The stock traded as high as GBX 4.90 and last traded at GBX 4.80. 38,513,406 shares traded hands during mid-day trading, an increase of 266% from the average session volume of 10,528,255 shares. The stock had previously closed at GBX 3.90.

Wall Street Analyst Weigh In

TLW has been the topic of a number of recent research reports. Panmure Gordon decreased 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 report on Monday. Jefferies Financial Group lowered their price target on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research report on Monday, October 20th. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Finally, Canaccord Genuity Group reduced their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research note on Thursday, August 7th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Trading Up 3.3%

The stock has a fifty day moving average of GBX 9.50 and a 200-day moving average of GBX 12.51. The company has a market cap of £72.67 million, a PE ratio of -0.35, a PEG ratio of -0.19 and a beta of 2.08. 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.

Tullow Oil Company Profile

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. The Company’s operations are focused on its West-African producing assets in Ghana, Gabon and Côte d’Ivoire, alongside a material discovered resource base in Kenya. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030 and has a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations.