Tullow Oil (LON:TLW) Shares Up 14.3% – Time to Buy?

Tullow Oil plc (LON:TLW) shot up 14.3% on Wednesday . The company traded as high as GBX 15.91 ($0.21) and last traded at GBX 15.64 ($0.21). 11,230,354 shares traded hands during 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).

Analyst Ratings Changes

A number of brokerages recently weighed in on TLW. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research note on Tuesday, May 6th. Canaccord Genuity Group lowered their target price on shares of Tullow Oil from GBX 35 ($0.47) to GBX 25 ($0.33) and set a “speculative buy” rating for the company in a research note on Thursday, February 20th.

Tullow Oil Price Performance

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. The firm has a market capitalization of £271.91 million, a price-to-earnings ratio of 17.37, a PEG ratio of -0.19 and a beta of 2.08. The business’s fifty day simple moving average is GBX 14.02 and its 200 day simple moving average is GBX 18.37.

Insiders Place Their Bets

In other Tullow Oil news, insider Roald Goethe acquired 150,000 shares of Tullow Oil stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of GBX 14 ($0.19) per share, for a total transaction of £21,000 ($27,947.83). Over the last ninety days, insiders purchased 400,000 shares of company stock worth $5,900,000. 24.59% of the stock is currently owned by company insiders.

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.