Tullow Oil (LON:TLW) Shares Up 23.1% – What’s Next?

Shares of Tullow Oil plc (LON:TLW) traded up 23.1% during trading on Wednesday . The stock traded as high as GBX 4.90 and last traded at GBX 4.80. 38,513,406 shares were traded during mid-day trading, an increase of 266% from the average session volume of 10,528,255 shares. The stock had previously closed at GBX 3.90.

Analyst Ratings Changes

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

Tullow Oil Stock Up 23.1%

The stock has a market cap of £70.32 million, a P/E 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 firm’s fifty day moving average is GBX 9.50 and its 200 day moving average is GBX 12.51.

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.