Tullow Oil (LON:TLW) Shares Up 18.5% – Time to Buy?

Tullow Oil plc (LON:TLW)’s stock price rose 18.5% during mid-day trading on Thursday . The company traded as high as GBX 14.47 ($0.18) and last traded at GBX 14.22 ($0.18). Approximately 66,848,008 shares were traded during trading, an increase of 491% from the average daily volume of 11,301,983 shares. The stock had previously closed at GBX 12 ($0.15).

Analyst Ratings Changes

TLW has been the subject of a number of research reports. Canaccord Genuity Group decreased their target price on Tullow Oil from GBX 35 ($0.45) to GBX 25 ($0.32) and set a “speculative buy” rating for the company in a report on Thursday, February 20th. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a report on Tuesday, April 1st.

Tullow Oil Stock Up 18.6 %

The firm has a 50-day moving average of GBX 15.66 and a 200 day moving average of GBX 20.19. The stock has a market capitalization of £263.21 million, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31.

Insider Buying and Selling

In other Tullow Oil news, insider Roald Goethe bought 150,000 shares of the business’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost of GBX 14 ($0.18) per share, with a total value of £21,000 ($26,833.63). 24.59% of the stock is currently owned by corporate insiders.

About Tullow Oil

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.