Tullow Oil (LON:TLW) Trading 14.3% Higher – Time to Buy?

Tullow Oil plc (LON:TLW)’s stock price shot up 14.3% during trading on Tuesday . The company 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 Analysts Forecast Growth

TLW has been the subject of several research reports. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research note on Tuesday, May 6th. Canaccord Genuity Group dropped their price target on Tullow Oil from GBX 35 ($0.47) to GBX 25 ($0.33) and set a “speculative buy” rating for the company in a research report on Thursday, February 20th.

Tullow Oil Stock Down 5.4%

The firm has a market cap of £273.66 million, a PE ratio of 17.48, a PEG ratio of -0.19 and a beta of 2.08. The stock has a 50 day simple moving average of GBX 14.02 and a 200-day simple moving average of GBX 18.37. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63.

Insider Transactions at Tullow Oil

In other news, insider Roald Goethe purchased 150,000 shares of the business’s stock in a transaction on Wednesday, April 23rd. The stock was acquired at an average price of GBX 14 ($0.19) per share, for a total transaction of £21,000 ($27,947.83). Insiders have bought a total of 400,000 shares of company stock worth $5,900,000 in the last ninety days. 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.