Tullow Oil (LON:TLW) Trading 7.1% Higher – Still a Buy?

Tullow Oil plc (LON:TLW) shares rose 7.1% during mid-day trading on Monday . The company traded as high as GBX 18.10 and last traded at GBX 17.75. Approximately 71,698,977 shares were traded during mid-day trading, an increase of 230% from the average daily volume of 21,714,350 shares. The stock had previously closed at GBX 16.58.

Wall Street Analyst Weigh In

TLW has been the subject of a number of recent analyst reports. Canaccord Genuity Group increased their target price on shares of Tullow Oil from GBX 13 to GBX 14 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Shore Capital Group restated a “hold” rating on shares of Tullow Oil in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of GBX 13.85.

Tullow Oil Stock Performance

The company has a current ratio of 0.52, a quick ratio of 0.63 and a debt-to-equity ratio of -892.65. The company’s 50-day moving average price is GBX 13.29 and its two-hundred day moving average price is GBX 9.63. The company has a market cap of £261.85 million, a P/E ratio of 44.38, a price-to-earnings-growth ratio of -0.19 and a beta of 0.43.

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.