Tullow Oil (LON:TLW) Trading 8.9% Higher – Still a Buy?

Tullow Oil plc (LON:TLW) shares traded up 8.9% on Monday . The stock traded as high as GBX 12.10 and last traded at GBX 11.98. 18,382,098 shares traded hands during trading, a decline of 4% from the average session volume of 19,169,301 shares. The stock had previously closed at GBX 11.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their price target on shares of Tullow Oil from GBX 7 to GBX 13 and gave the company a “hold” rating in a research report on Wednesday, March 4th. 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, the stock currently has an average rating of “Reduce” and an average price target of GBX 13.60.

Tullow Oil Price Performance

The company has a quick ratio of 0.63, a current ratio of 0.55 and a debt-to-equity ratio of -750.59. The stock has a market cap of £176.71 million, a P/E ratio of -0.86, a price-to-earnings-growth ratio of -0.19 and a beta of 0.37. The business’s 50-day simple moving average is GBX 11.79 and its two-hundred day simple moving average is GBX 9.13.

About Tullow Oil

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. Tullow’s operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.