Tullow Oil (LON:TLW) Stock Price Up 10.4% – Here’s Why

Tullow Oil plc (LON:TLW) shares rose 10.4% on Thursday . The stock traded as high as GBX 9.49 ($0.13) and last traded at GBX 9.16 ($0.12). Approximately 10,988,710 shares were traded during mid-day trading, an increase of 36% from the average daily volume of 8,073,210 shares. The stock had previously closed at GBX 8.30 ($0.11).

Analyst Upgrades and Downgrades

TLW has been the topic of several research reports. Canaccord Genuity Group cut their target price on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research report on Thursday, August 7th. Jefferies Financial Group lowered their price target on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday. Finally, Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of GBX 15.33.

Tullow Oil Trading Up 9.1%

The stock has a market capitalization of £146.36 million, a price-to-earnings ratio of -0.71, a P/E/G ratio of -0.19 and a beta of 2.08. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70. The firm has a fifty day moving average of GBX 10.58 and a 200-day moving average of GBX 13.32.

Insider Buying and Selling at Tullow Oil

In other Tullow Oil news, insider Roald Goethe bought 2,000,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of GBX 12 per share, for a total transaction of £240,000. 1.34% of the stock is owned by corporate insiders.

Tullow Oil Company Profile

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.