Tullow Oil (LON:TLW) Trading Up 17.2% – Time to Buy?

Tullow Oil plc (LON:TLW)’s share price traded up 17.2% during mid-day trading on Friday . The stock traded as high as GBX 14.58 ($0.19) and last traded at GBX 14.06 ($0.18). 179,569,344 shares changed hands during mid-day trading, an increase of 1,293% from the average session volume of 12,889,608 shares. The stock had previously closed at GBX 12 ($0.16).

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TLW shares. Canaccord Genuity Group reduced their target price on shares of Tullow Oil from GBX 35 ($0.45) to GBX 25 ($0.32) and set a “speculative buy” rating on the stock in a report on Thursday, February 20th. Shore Capital restated a “buy” rating on shares of Tullow Oil in a research note on Tuesday, April 1st.

Tullow Oil Stock Performance

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 stock has a fifty day simple moving average of GBX 15.59 and a two-hundred day simple moving average of GBX 20.12. The stock has a market cap of £256.87 million, a PE ratio of 16.41, a PEG ratio of -0.19 and a beta of 2.08.

Insider Transactions at Tullow Oil

In other Tullow Oil news, insider Roald Goethe bought 100,000 shares of the stock in a transaction dated Wednesday, March 26th. The stock was bought at an average cost of GBX 17 ($0.22) per share, for a total transaction of £17,000 ($22,066.46). Corporate insiders own 24.59% of the company’s stock.

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.