Tullow Oil (LON:TLW) Trading 19.2% Higher – Still a Buy?

Tullow Oil plc (LON:TLW) shot up 19.2% during trading on Wednesday . The company traded as high as GBX 4.90 and last traded at GBX 4.65. 32,826,137 shares changed hands during mid-day trading, an increase of 213% from the average session volume of 10,503,527 shares. The stock had previously closed at GBX 3.90.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TLW shares. Jefferies Financial Group dropped their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. Canaccord Genuity Group dropped their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research note on Thursday, August 7th. Panmure Gordon cut their price objective on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a research report on Monday. Finally, Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Stock Performance

The company has a market cap of £68.86 million, a price-to-earnings ratio of -0.34, a P/E/G 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. The stock’s 50 day moving average price is GBX 9.62 and its 200 day moving average price is GBX 12.56.

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.