Tullow Oil (LON:TLW) Trading Up 23.1% – Here’s Why

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

Wall Street Analyst Weigh In

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

Tullow Oil Stock Up 23.1%

The firm has a market cap of £70.32 million, a PE ratio of -0.34, 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’s 50-day moving average price is GBX 9.62 and its two-hundred day moving average price is GBX 12.56.

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.