Tullow Oil plc (LON:TLW – Get Free Report)’s share price shot up 4% during trading on Tuesday . The stock traded as high as GBX 17.20 and last traded at GBX 16.49. Approximately 27,864,525 shares traded hands during trading, an increase of 58% from the average daily volume of 17,649,549 shares. The stock had previously closed at GBX 15.86.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Peel Hunt restated a “buy” rating and issued a GBX 24 target price on shares of Tullow Oil in a research note on Wednesday, August 5th. Canaccord Genuity Group lifted their price target on Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a research report on Friday, August 14th. Finally, Shore Capital Group restated a “hold” rating on shares of Tullow Oil in a research report on Tuesday, April 28th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of GBX 12.60.
Tullow Oil Stock Up 5.7%
Insider Buying and Selling at Tullow Oil
In other news, insider Richard Miller purchased 115,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost of GBX 17 per share, for a total transaction of £19,550. Also, insider Garrett Soden purchased 426,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was purchased at an average cost of GBX 15 per share, for a total transaction of £63,900. 3.00% of the stock is owned by insiders.
Tullow Oil Company Profile
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.
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