Tullow Oil (LON:TLW) Trading Up 14.3% – Still a Buy?

Tullow Oil plc (LON:TLWGet Free Report)’s stock price traded up 14.3% during trading on Wednesday . The stock traded as high as GBX 15.91 ($0.21) and last traded at GBX 15.64 ($0.21). 11,230,354 shares changed hands during mid-day trading, an increase of 19% from the average session volume of 9,404,102 shares. The stock had previously closed at GBX 13.68 ($0.18).

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TLW shares. Canaccord Genuity Group dropped their price objective on shares of Tullow Oil from GBX 35 ($0.47) to GBX 25 ($0.33) and set a “speculative buy” rating on the stock in a research note on Thursday, February 20th. Shore Capital restated a “buy” rating on shares of Tullow Oil in a research note on Tuesday, May 6th.

Get Our Latest Analysis on TLW

Tullow Oil Stock Performance

The stock has a market cap of £271.91 million, a P/E ratio of 17.37, a price-to-earnings-growth 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. The firm’s 50 day moving average is GBX 14.02 and its 200 day moving average is GBX 18.37.

Insider Buying and Selling at Tullow Oil

In other news, insider Roald Goethe bought 100,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was bought at an average cost of GBX 17 ($0.23) per share, for a total transaction of £17,000 ($22,624.43). Insiders bought a total of 400,000 shares of company stock worth $5,900,000 over the last three months. Corporate insiders own 24.59% of the company’s stock.

About Tullow Oil

(Get Free Report)

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.

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